Nisa Investment Advisors LLC Sells 2,576 Shares of Enovix Co. (NASDAQ:ENVX)

Nisa Investment Advisors LLC reduced its position in Enovix Co. (NASDAQ:ENVX) by 3.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 65,005 shares of the company’s stock after selling 2,576 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Enovix were worth $814,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Enovix by 9.5% in the third quarter. Vanguard Group Inc. now owns 12,415,485 shares of the company’s stock valued at $155,814,000 after acquiring an additional 1,072,508 shares during the period. Raymond James & Associates boosted its position in shares of Enovix by 73.9% in the third quarter. Raymond James & Associates now owns 394,396 shares of the company’s stock valued at $4,950,000 after acquiring an additional 167,647 shares during the period. Udine Wealth Management Inc. bought a new position in shares of Enovix in the fourth quarter valued at approximately $1,687,000. tru Independence LLC bought a new position in shares of Enovix in the third quarter valued at approximately $3,745,000. Finally, Janney Montgomery Scott LLC bought a new stake in Enovix during the third quarter valued at approximately $1,167,000. 50.92% of the stock is currently owned by institutional investors.

Enovix Trading Up 2.8 %

ENVX stock opened at $6.89 on Wednesday. The company has a market capitalization of $1.16 billion, a PE ratio of -4.50 and a beta of 1.62. Enovix Co. has a one year low of $6.64 and a one year high of $23.90. The company’s 50 day moving average price is $9.02 and its two-hundred day moving average price is $10.35. The company has a debt-to-equity ratio of 0.65, a quick ratio of 5.15 and a current ratio of 5.30.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $7.38 million for the quarter, compared to analysts’ expectations of $3.37 million. Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. As a group, analysts predict that Enovix Co. will post -1.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Enovix news, COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction that occurred on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total transaction of $36,213.74. Following the transaction, the chief operating officer now directly owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ENVX shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of Enovix in a research report on Wednesday, February 21st. Canaccord Genuity Group reiterated a “buy” rating and set a $17.00 target price on shares of Enovix in a research report 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 company. According to MarketBeat, Enovix has a consensus rating of “Moderate Buy” and an average price target of $28.29.

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.