Doheny Asset Management CA Has $2.35 Million Holdings in Enovix Co. (NASDAQ:ENVX)

Doheny Asset Management CA trimmed its holdings in Enovix Co. (NASDAQ:ENVX) by 29.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 215,875 shares of the company’s stock after selling 89,921 shares during the period. Enovix comprises 1.8% of Doheny Asset Management CA’s holdings, making the stock its 20th biggest position. Doheny Asset Management CA’s holdings in Enovix were worth $2,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENVX. Geode Capital Management LLC raised its stake in Enovix by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock valued at $33,477,000 after acquiring an additional 182,757 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Enovix by 9.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,348,340 shares of the company’s stock valued at $14,656,000 after purchasing an additional 119,288 shares during the last quarter. Stifel Financial Corp raised its position 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 purchasing an additional 55,094 shares during the period. Old West Investment Management LLC lifted its stake in shares of Enovix by 12.3% during the 3rd quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock worth $8,759,000 after buying an additional 102,452 shares during the last quarter. Finally, Fred Alger Management LLC boosted its holdings in shares of Enovix by 2,468.6% during the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock worth $5,498,000 after buying an additional 565,698 shares during the period. 50.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Craig Hallum lowered their price target on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Insider Transactions at Enovix

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.70% of the company’s stock.

Enovix Price Performance

Enovix stock opened at $7.65 on Friday. The firm has a market cap of $1.46 billion, a PE ratio of -5.28 and a beta of 1.94. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The stock’s fifty day moving average price is $10.61 and its two-hundred day moving average price is $10.09. Enovix Co. has a one year low of $5.70 and a one year high of $18.68.

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

About Enovix

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.