Janus Henderson Group PLC Boosts Stake in Enovix Co. (NASDAQ:ENVX)

Janus Henderson Group PLC lifted its holdings in Enovix Co. (NASDAQ:ENVX) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,647 shares of the company’s stock after purchasing an additional 12,882 shares during the period. Janus Henderson Group PLC’s holdings in Enovix were worth $650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ENVX. Cetera Advisors LLC raised its stake in shares of 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 buying an additional 4,148 shares during the period. Blue Trust Inc. raised its position in Enovix by 102.1% during the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock worth $29,000 after acquiring an additional 957 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Enovix by 51.9% during the second quarter. Nisa Investment Advisors LLC now owns 98,910 shares of the company’s stock valued at $1,529,000 after purchasing an additional 33,794 shares in the last quarter. Legacy Capital Group California Inc. acquired a new stake in shares of Enovix in the second quarter valued at about $294,000. Finally, Clear Creek Financial Management LLC purchased a new stake in shares of Enovix during the second quarter worth about $724,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Performance

Shares of Enovix stock opened at $8.98 on Friday. The business’s fifty day simple moving average is $10.04 and its 200-day simple moving average is $11.26. 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 $1.60 billion, a PE ratio of -5.58 and a beta of 1.94. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68.

Enovix (NASDAQ:ENVX) last announced its earnings results 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. The company had revenue of $4.30 million during the quarter, compared to analyst estimates 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 quarter last year, the firm posted ($0.27) earnings per share. Equities analysts forecast that Enovix Co. will post -1.17 earnings per share for the current year.

Insider Activity at Enovix

In related news, insider Arthi Chakravarthy sold 35,000 shares of the 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 transaction, the insider now owns 343,305 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the transaction, the director now directly owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. This represents a 42.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ENVX. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and issued a $36.00 price objective on shares of Enovix in a report on Monday, August 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Enovix 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.