Russell Investments Group Ltd. Raises Position in Enovix Co. (NASDAQ:ENVX)

1 month ago Defense World

Russell Investments Group Ltd. raised its holdings in shares of Enovix Co. (NASDAQ:ENVX – Get Rating) by 289.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,493 shares of the company’s stock after acquiring an additional 171,276 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.15% of Enovix worth $4,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of ENVX. Quantbot Technologies LP purchased a new position in shares of Enovix during the 2nd quarter worth $26,000. Sierra Capital LLC bought a new stake in shares of Enovix during the 2nd quarter valued at $47,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Enovix during the 2nd quarter valued at $61,000. Emerald Advisers LLC bought a new stake in shares of Enovix during the 3rd quarter valued at $62,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Enovix during the 1st quarter valued at $67,000. Hedge funds and other institutional investors own 55.62% of the company’s stock.

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Insider Activity at Enovix

In other Enovix news, CTO Ashok Lahiri sold 2,000 shares of the business’s stock in a transaction on 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 owns 1,358,265 shares in the company, valued at approximately $17,399,374.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 20.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ENVX shares. Cowen decreased their price objective on shares of Enovix from $36.00 to $25.00 in a research report on Wednesday, November 2nd. Janney Montgomery Scott began coverage on shares of Enovix in a report on Friday, November 4th. They issued a “buy” rating and a $23.00 price target on the stock. Cowen reduced their price target on shares of Enovix from $36.00 to $25.00 in a report on Wednesday, November 2nd. JPMorgan Chase & Co. reduced their price target on shares of Enovix from $28.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, January 26th. Finally, B. Riley reduced their target price on shares of Enovix from $19.00 to $18.00 in a report on Wednesday, January 4th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $28.54.

Enovix Stock Up 3.5 %

Several analysts have recently commented on ENVX shares. Cowen decreased their price objective on shares of Enovix from $36.00 to $25.00 in a research report on Wednesday, November 2nd. Janney Montgomery Scott began coverage on shares of Enovix in a report on Friday, November 4th. They issued a “buy” rating and a $23.00 price target on the stock. Cowen reduced their price target on shares of Enovix from $36.00 to $25.00 in a report on Wednesday, November 2nd. JPMorgan Chase & Co. reduced their price target on shares of Enovix from $28.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, January 26th. Finally, B. Riley reduced their target price on shares of Enovix from $19.00 to $18.00 in a report on Wednesday, January 4th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $28.54.

Shares of Enovix stock opened at $9.09 on Friday. Enovix Co. has a 52-week low of $6.50 and a 52-week high of $26.30. The company has a 50 day moving average of $10.05 and a 200 day moving average of $14.71. The company has a market capitalization of $1.43 billion, a P/E ratio of -6.18 and a beta of 1.06.

Enovix (NASDAQ:ENVX – Get Rating) last announced its earnings results on Tuesday, November 1st. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.55 million. As a group, research analysts anticipate that Enovix Co. will post -0.76 earnings per share for the current fiscal year.

About Enovix

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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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