Y Intercept Hong Kong Ltd Makes New $1.38 Million Investment in Enovix Co. (NASDAQ:ENVX)

Y Intercept Hong Kong Ltd bought a new position in Enovix Co. (NASDAQ:ENVX) during the 4th quarter, Holdings Channel reports. The institutional investor bought 126,990 shares of the company’s stock, valued at approximately $1,380,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC purchased a new stake in Enovix in the 3rd quarter worth approximately $27,000. Fifth Third Bancorp raised its position in shares of Enovix by 66.7% during the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after buying an additional 1,000 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Enovix during the 4th quarter valued at $64,000. Voisard Asset Management Group Inc. raised its position in shares of Enovix by 40.0% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock valued at $65,000 after buying an additional 2,000 shares in the last quarter. Finally, Quest Partners LLC raised its position in shares of Enovix by 318.5% during the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock valued at $77,000 after buying an additional 6,294 shares in the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of the firm’s 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 sale, the director now directly owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 15.70% of the company’s stock.

Enovix Price Performance

Shares of Enovix stock opened at $9.44 on Wednesday. The firm has a market cap of $1.68 billion, a PE ratio of -6.51 and a beta of 1.87. Enovix Co. has a 12-month low of $5.70 and a 12-month 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 company’s fifty day simple moving average is $11.19 and its two-hundred day simple moving average is $10.27.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The business had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. As a group, equities analysts expect that Enovix Co. will post -1.01 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ENVX shares. Benchmark restated a “buy” rating and set a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum lowered their price objective on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

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.