SG Americas Securities LLC Has $200,000 Position in Enovix Co. (NASDAQ:ENVX)

SG Americas Securities LLC lessened its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 60.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 18,391 shares of the company’s stock after selling 28,598 shares during the period. SG Americas Securities LLC’s holdings in Enovix were worth $200,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lpwm LLC bought a new stake in Enovix in the 4th quarter valued at $549,000. Oppenheimer & Co. Inc. raised its position in shares of Enovix by 52.2% during the third quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company’s stock valued at $2,541,000 after buying an additional 93,303 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Enovix by 6.2% in the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after buying an additional 55,094 shares during the period. One Wealth Advisors LLC acquired a new stake in Enovix during the third quarter worth about $700,000. Finally, Financial Enhancement Group LLC bought a new position in Enovix during the third quarter valued at about $936,000. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Up 0.2 %

NASDAQ:ENVX opened at $11.78 on Friday. The stock has a 50-day moving average price of $10.82 and a two-hundred day moving average price of $10.48. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -7.32 and a beta of 1.87.

Wall Street Analysts Forecast Growth

ENVX has been the topic of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of Enovix in a report on Wednesday, October 30th. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Enovix has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Insider Activity at Enovix

In related news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the sale, the director now owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.70% of the stock is owned by insiders.

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.