Nwam LLC Invests $98,000 in Enovix Co. (NASDAQ:ENVX)

Nwam LLC acquired a new stake in Enovix Co. (NASDAQ:ENVX) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,449 shares of the company’s stock, valued at approximately $98,000.

Several other institutional investors have also added to or reduced their stakes in ENVX. Oppenheimer & Co. Inc. boosted its stake in shares of Enovix by 52.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company’s stock valued at $2,541,000 after purchasing an additional 93,303 shares in the last quarter. One Wealth Advisors LLC bought a new position in Enovix in the 3rd quarter valued at approximately $700,000. Vanguard Group Inc. lifted its stake in Enovix by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock valued at $104,881,000 after purchasing an additional 164,717 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Enovix by 63.7% during the second quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock worth $60,085,000 after buying an additional 1,512,424 shares during the last quarter. Finally, Scientech Research LLC bought a new stake in shares of Enovix during the second quarter worth $834,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Stock Down 3.3 %

Shares of NASDAQ ENVX opened at $9.22 on Wednesday. The firm has a market cap of $1.64 billion, a PE ratio of -5.73 and a beta of 1.99. The company’s fifty day simple moving average is $10.00 and its 200 day simple moving average is $11.31. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68.

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

Insider Activity

In other news, insider Arthi Chakravarthy sold 35,000 shares of Enovix stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the transaction, the insider now owns 343,305 shares in the company, valued at $4,462,965. This trade represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ENVX has been the topic of several recent research reports. Oppenheimer reissued an “outperform” rating and set a $36.00 price objective on shares of Enovix in a report on Monday, August 26th. JPMorgan Chase & Co. lowered their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Craig Hallum raised their price objective on shares of Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen boosted their target price on shares of Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Enovix currently has an average rating of “Moderate Buy” and an average price target of $20.50.

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.