International Assets Investment Management LLC bought a new position in shares of Enovix Co. (NASDAQ:ENVX – Free Report) during the fourth quarter, Holdings Channel.com reports. The firm bought 33,804 shares of the company’s stock, valued at approximately $4,230,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ENVX. Macquarie Group Ltd. purchased a new position in shares of Enovix during the 3rd quarter worth approximately $26,000. Quantbot Technologies LP purchased a new position in shares of Enovix during the 2nd quarter worth approximately $26,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Enovix during the 3rd quarter worth approximately $31,000. Beacon Capital Management LLC grew its stake in shares of Enovix by 66.7% in the 4th quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock worth $31,000 after buying an additional 1,000 shares during the last quarter. Finally, Carmel Capital Partners LLC purchased a new stake in shares of Enovix in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.
Enovix Stock Performance
Enovix stock opened at $6.89 on Wednesday. The stock’s 50 day moving average is $9.02 and its 200 day moving average is $10.35. The company has a quick ratio of 5.15, a current ratio of 5.30 and a debt-to-equity ratio of 0.65. Enovix Co. has a twelve month low of $6.64 and a twelve month high of $23.90. The company has a market capitalization of $1.16 billion, a P/E ratio of -4.50 and a beta of 1.62.
Insider Buying and Selling at Enovix
In other Enovix news, COO Ajay Marathe sold 4,954 shares of the stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the sale, the chief operating officer now directly owns 978,913 shares in the company, valued at approximately $7,155,854.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 17.30% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on ENVX shares. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Wednesday, February 21st. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Enovix in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Enovix presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.
Read Our Latest Research Report on ENVX
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.
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