Enovix Co. (NASDAQ:ENVX) Shares Acquired by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. grew its position in Enovix Co. (NASDAQ:ENVX) by 47.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,022 shares of the company’s stock after buying an additional 8,998 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Enovix were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Enovix by 102.1% in the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after buying an additional 957 shares in the last quarter. Beacon Capital Management LLC grew its stake in shares of Enovix by 71.9% in the first quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock valued at $34,000 after buying an additional 1,798 shares in the last quarter. GAMMA Investing LLC grew its stake in Enovix by 11,176.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock worth $37,000 after purchasing an additional 2,347 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Enovix during the 2nd quarter worth $39,000. Finally, Voisard Asset Management Group Inc. grew its stake in Enovix by 25.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock worth $77,000 after purchasing an additional 1,000 shares in the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Arthi Chakravarthy sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the sale, the insider now directly owns 343,305 shares of the company’s stock, valued at approximately $4,462,965. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.70% of the company’s stock.

Enovix Trading Down 4.3 %

NASDAQ:ENVX opened at $10.41 on Friday. The stock has a 50-day simple moving average of $10.05 and a 200-day simple moving average of $10.97. The stock has a market cap of $1.84 billion, a P/E ratio of -6.51 and a beta of 1.98. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.84 and a current ratio of 3.98.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, July 31st. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. Enovix had a negative return on equity of 91.21% and a negative net margin of 1,434.34%. The business had revenue of $3.77 million during the quarter, compared to the consensus estimate of $3.85 million. As a group, analysts anticipate that Enovix Co. will post -1.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on ENVX. TD Cowen boosted their target price on Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, August 1st. Craig Hallum boosted their target price on Enovix from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and set a $19.00 target price (down from $23.00) on shares of Enovix in a research note on Monday, August 5th. Finally, Benchmark initiated coverage on Enovix in a research note on Monday, July 22nd. They set a “buy” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $21.67.

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.