Insight Advisors LLC PA Lowers Position in Enovix Co. (NASDAQ:ENVX)

Insight Advisors LLC PA lessened its stake in Enovix Co. (NASDAQ:ENVX) by 3.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,159 shares of the company’s stock after selling 1,660 shares during the quarter. Insight Advisors LLC PA’s holdings in Enovix were worth $475,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ENVX. Geode Capital Management LLC increased its position in Enovix by 5.4% during the third 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Enovix by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the company’s stock valued at $11,479,000 after purchasing an additional 73,320 shares during the period. Stifel Financial Corp boosted its stake in shares of Enovix by 6.2% during 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 boosted its stake in shares of Enovix by 12.3% during the third quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock valued at $8,759,000 after purchasing an additional 102,452 shares during the period. Finally, Fred Alger Management LLC boosted its stake in shares of Enovix by 2,468.6% during the third quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock valued at $5,498,000 after purchasing an additional 565,698 shares during the period. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Performance

Shares of ENVX stock opened at $11.56 on Thursday. The stock’s fifty day moving average is $10.72 and its two-hundred day moving average is $10.50. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENVX. Benchmark reissued a “buy” rating and set a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Wednesday, October 30th. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Insiders Place Their Bets

In related news, Director Betsy S. Atkins sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.70% of the company’s stock.

Enovix Company 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.