33,804 Shares in Enovix Co. (NASDAQ:ENVX) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new stake in shares of Enovix Co. (NASDAQ:ENVX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Enovix by 9.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,415,485 shares of the company’s stock worth $155,814,000 after buying an additional 1,072,508 shares during the period. Electron Capital Partners LLC raised its holdings in shares of Enovix by 188.0% during the third quarter. Electron Capital Partners LLC now owns 2,698,897 shares of the company’s stock valued at $33,871,000 after acquiring an additional 1,761,834 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Enovix by 16.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,034,802 shares of the company’s stock valued at $12,987,000 after acquiring an additional 146,028 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Enovix by 87.3% in the 3rd quarter. Stifel Financial Corp now owns 624,600 shares of the company’s stock valued at $7,839,000 after acquiring an additional 291,054 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Enovix in the 3rd quarter worth approximately $7,290,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insiders Place Their Bets

In other news, COO Ajay Marathe sold 4,954 shares of the firm’s stock in a transaction 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 owns 978,913 shares in the company, valued at approximately $7,155,854.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.30% of the company’s stock.

Enovix Stock Performance

Shares of NASDAQ ENVX opened at $9.08 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15. Enovix Co. has a one year low of $5.70 and a one year high of $23.90. The business’s 50-day moving average price is $7.86 and its two-hundred day moving average price is $9.99. The company has a market capitalization of $1.54 billion, a P/E ratio of -6.63 and a beta of 1.70.

Enovix (NASDAQ:ENVX) last announced 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 firm had revenue of $7.38 million during the quarter, compared to the consensus estimate of $3.37 million. Enovix had a negative net margin of 1,448.90% and a negative return on equity of 83.66%. Analysts anticipate that Enovix Co. will post -1.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on ENVX. B. Riley cut their target price on shares of Enovix from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price target on shares of Enovix in a research report on Wednesday, February 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered their target price on Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Finally, William Blair reissued an “outperform” rating on shares of Enovix in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and a consensus price target of $18.33.

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.