Lee Danner & Bass Inc. Takes $65,000 Position in Enovix Co. (NASDAQ:ENVX)

Lee Danner & Bass Inc. bought a new stake in shares of Enovix Co. (NASDAQ:ENVX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 6,000 shares of the company’s stock, valued at approximately $65,000.

Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of Enovix by 66.7% during the fourth 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 during the last quarter. Prospera Private Wealth LLC purchased a new stake in Enovix in the 3rd quarter worth about $27,000. Hollencrest Capital Management boosted its position in Enovix by 61.4% during the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock worth $57,000 after acquiring an additional 2,000 shares during the period. R Squared Ltd acquired a new stake in Enovix during the 4th quarter worth about $64,000. Finally, SRS Capital Advisors Inc. acquired a new stake in Enovix during the 4th quarter worth about $87,000. 50.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum decreased their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enovix has a consensus rating of “Moderate Buy” and an average target price of $20.30.

Enovix Stock Up 6.2 %

ENVX opened at $8.45 on Friday. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The business has a 50-day moving average of $10.17 and a 200-day moving average of $10.04. 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 company has a market capitalization of $1.62 billion, a PE ratio of -5.83 and a beta of 1.93.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share 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 during the quarter, compared to the consensus estimate of $8.77 million. Equities research analysts forecast that Enovix Co. will post -1.01 EPS for the current fiscal year.

Insider Activity at Enovix

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the transaction, the chief executive officer now directly owns 2,045,301 shares of the company’s stock, valued at approximately $19,123,564.35. This trade represents a 12.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 15.70% of the stock is owned by company insiders.

Enovix Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.