Atria Wealth Solutions Inc. Sells 3,030 Shares of Enovix Co. (NASDAQ:ENVX)

Atria Wealth Solutions Inc. reduced its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 14.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,035 shares of the company’s stock after selling 3,030 shares during the period. Atria Wealth Solutions Inc.’s holdings in Enovix were worth $226,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings 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 worth $155,814,000 after acquiring an additional 1,072,508 shares during the last quarter. Electron Capital Partners LLC lifted its stake in Enovix by 188.0% in the 3rd quarter. Electron Capital Partners LLC now owns 2,698,897 shares of the company’s stock valued at $33,871,000 after purchasing an additional 1,761,834 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Enovix by 16.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,034,802 shares of the company’s stock valued at $12,987,000 after buying an additional 146,028 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Enovix by 87.3% during the third quarter. Stifel Financial Corp now owns 624,600 shares of the company’s stock worth $7,839,000 after buying an additional 291,054 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Enovix during the third quarter worth $7,290,000. 50.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENVX has been the topic of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 price objective on shares of Enovix in a report on Wednesday, February 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of Enovix in a research note on Thursday, April 25th. Craig Hallum lowered their price objective on Enovix from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. 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 report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Enovix currently has an average rating of “Moderate Buy” and an average price target of $18.33.

Enovix Price Performance

Shares of ENVX opened at $9.14 on Friday. The business has a 50-day moving average of $7.84 and a 200-day moving average of $9.98. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -6.82 and a beta of 1.70. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $23.90.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Enovix had a negative return on equity of 83.66% and a negative net margin of 1,448.90%. The firm had revenue of $7.38 million for the quarter, compared to the consensus estimate of $3.37 million. As a group, equities research analysts anticipate that Enovix Co. will post -1.13 earnings per share for the current year.

Insider Activity at Enovix

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the stock in a transaction dated Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of 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 this hyperlink. 17.30% of the stock is owned by company insiders.

Enovix 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.