Enovix Co. (NASDAQ:ENVX – Get Rating) saw unusually large options trading on Wednesday. Stock investors acquired 18,278 call options on the stock. This is an increase of 123% compared to the average volume of 8,195 call options.
Insiders Place Their Bets
In other news, CTO Ashok Lahiri sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $13.30, for a total transaction of $26,600.00. Following the transaction, the chief technology officer now owns 1,407,993 shares of the company’s stock, valued at $18,726,306.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Ashok Lahiri sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $13.30, for a total value of $26,600.00. Following the completion of the sale, the chief technology officer now owns 1,407,993 shares in the company, valued at $18,726,306.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gardner Cameron Dales sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the insider now owns 989,565 shares of the company’s stock, valued at approximately $19,791,300. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock valued at $1,050,980 over the last ninety days. 20.60% of the stock is owned by insiders.
Institutional Investors Weigh In On Enovix
Several hedge funds have recently modified their holdings of ENVX. State Street Corp boosted its stake in shares of Enovix by 392.4% during the 2nd quarter. State Street Corp now owns 1,935,508 shares of the company’s stock worth $17,245,000 after acquiring an additional 1,542,457 shares in the last quarter. Encompass Capital Advisors LLC boosted its stake in shares of Enovix by 113.5% during the 2nd quarter. Encompass Capital Advisors LLC now owns 2,819,699 shares of the company’s stock worth $25,124,000 after acquiring an additional 1,499,121 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Enovix by 401.4% during the 2nd quarter. Northern Trust Corp now owns 973,135 shares of the company’s stock worth $8,671,000 after acquiring an additional 779,033 shares in the last quarter. Polar Asset Management Partners Inc. lifted its stake in Enovix by 507.3% in the 1st quarter. Polar Asset Management Partners Inc. now owns 852,100 shares of the company’s stock valued at $12,159,000 after buying an additional 711,800 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in Enovix in the 2nd quarter valued at about $5,089,000. 61.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Enovix Stock Performance
Shares of ENVX opened at $20.08 on Thursday. The business’s 50-day moving average is $15.11 and its two-hundred day moving average is $13.13. The company has a market capitalization of $3.16 billion, a P/E ratio of -19.69 and a beta of 1.96. Enovix has a fifty-two week low of $7.26 and a fifty-two week high of $39.48.
Enovix (NASDAQ:ENVX – Get Rating) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. During the same period last year, the company earned ($0.21) EPS. Analysts forecast that Enovix will post -0.77 EPS for the current year.
Enovix Company Profile
Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.
- Get a free copy of the StockNews.com research report on Enovix (ENVX)
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