Stephens Inc. AR bought a new position in shares of Enovix Co. (NASDAQ:ENVX - Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,555 shares of the company's stock, valued at approximately $487,000.
Several other large investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its holdings in Enovix by 48.7% during the third quarter. Victory Capital Management Inc. now owns 93,834 shares of the company's stock worth $1,720,000 after purchasing an additional 30,721 shares during the last quarter. Solstein Capital LLC acquired a new position in Enovix during the third quarter worth $735,000. Forefront Wealth Management Inc. boosted its holdings in Enovix by 168.0% during the third quarter. Forefront Wealth Management Inc. now owns 68,023 shares of the company's stock worth $1,247,000 after purchasing an additional 42,645 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Enovix in the third quarter valued at $383,000. Finally, Handelsbanken Fonder AB lifted its stake in Enovix by 12.6% in the third quarter. Handelsbanken Fonder AB now owns 643,211 shares of the company's stock valued at $11,793,000 after acquiring an additional 72,111 shares during the last quarter. Institutional investors and hedge funds own 55.62% of the company's stock.
NASDAQ:ENVX opened at $7.96 on Monday. Enovix Co. has a 52 week low of $6.50 and a 52 week high of $26.30. The firm's 50-day simple moving average is $11.02 and its 200 day simple moving average is $14.87.
Enovix (NASDAQ:ENVX - Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.01. The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.55 million. Research analysts expect that Enovix Co. will post -0.77 earnings per share for the current fiscal year.
In other Enovix news, CTO Ashok Lahiri sold 2,000 shares of the firm's stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $12.81, for a total value of $25,620.00. Following the transaction, the chief technology officer now directly owns 1,358,265 shares of the company's stock, valued at approximately $17,399,374.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Enovix news, insider Gardner Cameron Dales sold 30,000 shares of the firm's stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $18.55, for a total value of $556,500.00. Following the transaction, the insider now directly owns 899,565 shares of the company's stock, valued at approximately $16,686,930.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Ashok Lahiri sold 2,000 shares of the firm's stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $12.81, for a total transaction of $25,620.00. Following the completion of the transaction, the chief technology officer now directly owns 1,358,265 shares in the company, valued at $17,399,374.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,000 shares of company stock valued at $740,870. 20.60% of the stock is owned by company insiders.
A number of analysts have commented on the stock. Cowen cut their price target on shares of Enovix from $36.00 to $25.00 in a research note on Wednesday, November 2nd. Canaccord Genuity Group assumed coverage on shares of Enovix in a research note on Wednesday, January 11th. They issued a "buy" rating and a $20.00 price target for the company. Cowen cut their price target on shares of Enovix from $36.00 to $25.00 in a research note on Wednesday, November 2nd. Janney Montgomery Scott assumed coverage on shares of Enovix in a research note on Friday, November 4th. They issued a "buy" rating and a $23.00 price target for the company. Finally, B. Riley cut their price target on shares of Enovix from $19.00 to $18.00 in a research note on Wednesday, January 4th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $30.00.
Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.
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