Natixis Advisors LLC Grows Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Natixis Advisors LLC lifted its position in shares of Enovix Co. (NASDAQ:ENVX) by 93.9% during the third quarter, HoldingsChannel reports. The fund owned 31,028 shares of the company’s stock after acquiring an additional 15,030 shares during the quarter. Natixis Advisors LLC’s holdings in Enovix were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ENVX. Vanguard Group Inc. lifted its holdings in Enovix by 1.3% in the first quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock valued at $104,881,000 after acquiring an additional 164,717 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Enovix by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 79,919 shares of the company’s stock valued at $641,000 after buying an additional 5,030 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Enovix during the first quarter worth about $85,000. Virtu Financial LLC acquired a new position in Enovix in the first quarter valued at $88,000. Finally, Cetera Advisors LLC boosted its position in Enovix by 14.3% during the 1st quarter. Cetera Advisors LLC now owns 33,229 shares of the company’s stock worth $266,000 after purchasing an additional 4,148 shares during the period. 50.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Enovix news, insider Arthi Chakravarthy sold 35,000 shares of the 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 transaction, the insider now directly owns 343,305 shares of the company’s stock, valued at $4,462,965. This represents a 9.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 15.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ENVX. Canaccord Genuity Group increased their price objective on shares of Enovix from $17.00 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 issued a $19.00 price target (down previously from $23.00) on shares of Enovix in a research note on Monday, August 5th. TD Cowen upped their target price on Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Janney Montgomery Scott cut 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. Finally, Oppenheimer reiterated an “outperform” rating and issued a $36.00 price target on shares of Enovix in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Enovix Price Performance

NASDAQ:ENVX opened at $9.23 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The company has a fifty day moving average price of $10.02 and a 200 day moving average price of $11.30. Enovix Co. has a one year low of $5.70 and a one year high of $18.68. The stock has a market cap of $1.64 billion, a P/E ratio of -5.73 and a beta of 1.99.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The firm had revenue of $4.30 million during the quarter, compared to analysts’ expectations of $4.11 million. During the same quarter in the previous year, the company posted ($0.27) EPS. Analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current year.

About Enovix

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.