Enovix Co. (NASDAQ:ENVX) Stock Holdings Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in Enovix Co. (NASDAQ:ENVX) by 34.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 20,077 shares of the company’s stock after buying an additional 5,162 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Enovix were worth $188,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Capital Group California Inc. boosted its stake in Enovix by 47.3% in the third quarter. Legacy Capital Group California Inc. now owns 28,022 shares of the company’s stock valued at $262,000 after acquiring an additional 8,998 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Enovix by 23.6% in the 3rd quarter. Private Advisor Group LLC now owns 99,900 shares of the company’s stock worth $933,000 after purchasing an additional 19,056 shares during the last quarter. Wealth Effects LLC boosted its position in Enovix by 7.2% during the 3rd quarter. Wealth Effects LLC now owns 245,501 shares of the company’s stock valued at $2,293,000 after purchasing an additional 16,500 shares during the period. Secure Asset Management LLC bought a new position in Enovix during the 3rd quarter worth $97,000. Finally, Good Life Advisors LLC increased its position in Enovix by 10.9% in the third quarter. Good Life Advisors LLC now owns 46,213 shares of the company’s stock worth $432,000 after buying an additional 4,524 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ENVX shares. Canaccord Genuity Group boosted their price target on shares of Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their price target on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price target (down previously from $23.00) on shares of Enovix in a report on Monday, August 5th. Finally, Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Enovix in a report on Wednesday, October 30th. Two equities research analysts have 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Insider Activity at Enovix

In other Enovix 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 transaction of $455,000.00. Following the sale, the insider now owns 343,305 shares in the company, valued at approximately $4,462,965. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.70% of the stock is currently owned by corporate insiders.

Enovix Price Performance

NASDAQ:ENVX opened at $9.22 on Wednesday. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The firm has a market cap of $1.64 billion, a P/E ratio of -6.20 and a beta of 1.99. The business’s 50-day moving average price is $9.94 and its 200 day moving average price is $11.26.

Enovix (NASDAQ:ENVX) last issued its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. The firm had revenue of $4.30 million during the quarter, compared to analysts’ expectations of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same period last year, the firm posted ($0.27) earnings per share. As a group, sell-side analysts predict that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

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.