Wealthcare Advisory Partners LLC Buys 3,936 Shares of Enovix Co. (NASDAQ:ENVX)

Wealthcare Advisory Partners LLC increased its stake in Enovix Co. (NASDAQ:ENVX) by 36.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,694 shares of the company’s stock after buying an additional 3,936 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Enovix were worth $118,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ENVX. Rhumbline Advisers raised its stake in Enovix by 3.0% in the third quarter. Rhumbline Advisers now owns 191,347 shares of the company’s stock worth $2,401,000 after buying an additional 5,617 shares in the last quarter. Natixis Advisors L.P. bought a new position in Enovix in the third quarter worth about $251,000. Lake Street Advisors Group LLC bought a new position in Enovix in the third quarter worth about $191,000. KGH Ltd bought a new position in Enovix in the third quarter worth about $816,000. Finally, Scotia Capital Inc. increased its stake in shares of Enovix by 7.7% during the third quarter. Scotia Capital Inc. now owns 19,680 shares of the company’s stock valued at $247,000 after purchasing an additional 1,410 shares in the last quarter. 50.92% of the stock is owned by institutional investors.

Enovix Trading Down 2.3 %

Shares of ENVX stock opened at $15.10 on Tuesday. The company has a current ratio of 4.89, a quick ratio of 4.77 and a debt-to-equity ratio of 0.72. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $23.90. The firm’s 50 day moving average is $10.53 and its 200 day moving average is $10.13. The stock has a market capitalization of $2.57 billion, a P/E ratio of -11.27 and a beta of 2.04.

Enovix (NASDAQ:ENVX) last released its earnings results on Wednesday, May 1st. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). Enovix had a negative net margin of 1,448.90% and a negative return on equity of 85.47%. The firm had revenue of $5.27 million for the quarter, compared to analysts’ expectations of $4.16 million. Research analysts expect that Enovix Co. will post -1.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ENVX. B. Riley raised shares of Enovix to a “strong-buy” rating in a research note on Tuesday, June 25th. William Blair reaffirmed an “outperform” rating on shares of Enovix in a research note on Thursday, May 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Enovix in a research note on Thursday, June 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, April 25th. Finally, Craig Hallum decreased their target price on shares of Enovix from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $18.33.

Insider Activity at Enovix

In other Enovix news, Director Gregory Reichow sold 7,500 shares of Enovix stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total value of $91,050.00. Following the sale, the director now directly owns 8,129 shares in the company, valued at approximately $98,686.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Enovix news, COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total value of $36,213.74. Following the sale, the chief operating officer now directly owns 978,913 shares in the company, valued at approximately $7,155,854.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory Reichow sold 7,500 shares of Enovix stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total transaction of $91,050.00. Following the completion of the sale, the director now owns 8,129 shares in the company, valued at $98,686.06. The disclosure for this sale can be found here. 17.30% of the stock is owned by corporate insiders.

Enovix Company Profile

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.