Enovix Co. (NASDAQ:ENVX) Shares Acquired by L & S Advisors Inc

L & S Advisors Inc boosted its position in Enovix Co. (NASDAQ:ENVX) by 11.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 127,504 shares of the company’s stock after purchasing an additional 13,429 shares during the quarter. L & S Advisors Inc’s holdings in Enovix were worth $1,386,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its stake 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. Sava Infond d.o.o. purchased a new position in Enovix in the fourth quarter valued at approximately $43,000. Hollencrest Capital Management lifted its position in Enovix by 61.4% during the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock valued at $57,000 after buying an additional 2,000 shares in the last quarter. R Squared Ltd purchased a new stake in Enovix during the fourth quarter worth approximately $64,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Enovix in the fourth quarter worth $65,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the sale, the chief executive officer now owns 2,045,301 shares in the company, valued at $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 SEC, which is available through this link. 15.70% of the stock is currently owned by corporate insiders.

Enovix Trading Down 6.6 %

Shares of NASDAQ ENVX opened at $7.48 on Friday. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $1.43 billion, a P/E ratio of -5.16 and a beta of 1.93. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68. The stock’s 50 day moving average price is $9.92 and its two-hundred day moving average price is $10.04.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ENVX shares. Craig Hallum reduced their target price 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 restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. Two equities research 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.com, Enovix currently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

About Enovix

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.