Rothschild Investment LLC Grows Stake in Enovix Co. (NASDAQ:ENVX)

Rothschild Investment LLC grew its position in Enovix Co. (NASDAQ:ENVX) by 28.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,675 shares of the company’s stock after buying an additional 14,075 shares during the quarter. Rothschild Investment LLC’s holdings in Enovix were worth $692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of Enovix in the third quarter valued at about $27,000. Fifth Third Bancorp raised its holdings in shares of Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after purchasing an additional 1,000 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Enovix in the 4th quarter worth approximately $64,000. Voisard Asset Management Group Inc. boosted its stake in shares of Enovix by 40.0% during the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock valued at $65,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Enovix by 318.5% during the third quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock valued at $77,000 after purchasing an additional 6,294 shares in the last quarter. Institutional investors own 50.92% of the company’s stock.

Enovix Trading Down 8.4 %

Enovix stock opened at $9.82 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The stock has a market cap of $1.75 billion, a PE ratio of -6.77 and a beta of 1.87. The stock has a 50-day moving average of $11.17 and a two-hundred day moving average of $10.28. Enovix Co. has a one year low of $5.70 and a one year high of $18.68.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $9.72 million for the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. On average, research analysts anticipate that Enovix Co. will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Craig Hallum lowered their target price on Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. Janney Montgomery Scott lowered Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Thursday, October 31st. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Enovix in a report on Wednesday, October 30th. Two 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Insider Buying and Selling at Enovix

In related news, Director Betsy S. Atkins sold 75,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was 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 owns 99,497 shares in the company, valued at $968,105.81. This trade represents a 42.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.70% of the stock is currently owned by company 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.