Victory Capital Management Inc. Increases Position in Enovix Co. (NASDAQ:ENVX)

Victory Capital Management Inc. boosted its holdings in Enovix Co. (NASDAQ:ENVXFree Report) by 29.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,423 shares of the company’s stock after purchasing an additional 4,170 shares during the period. Victory Capital Management Inc.’s holdings in Enovix were worth $231,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Choreo LLC lifted its holdings in Enovix by 17.4% during the 4th quarter. Choreo LLC now owns 13,470 shares of the company’s stock worth $169,000 after buying an additional 2,000 shares during the last quarter. White Pine Capital LLC lifted its stake in Enovix by 31.2% during the fourth quarter. White Pine Capital LLC now owns 85,761 shares of the company’s stock worth $1,074,000 after purchasing an additional 20,415 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its holdings in Enovix by 35.4% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 24,688 shares of the company’s stock worth $309,000 after purchasing an additional 6,450 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Enovix by 17.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,805 shares of the company’s stock valued at $348,000 after purchasing an additional 4,137 shares during the last quarter. Finally, Flputnam Investment Management Co. raised its holdings in shares of Enovix by 61.2% during the fourth quarter. Flputnam Investment Management Co. now owns 23,976 shares of the company’s stock worth $300,000 after purchasing an additional 9,099 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Up 12.5 %

ENVX stock opened at $10.81 on Monday. The firm has a market cap of $1.84 billion, a PE ratio of -8.07 and a beta of 1.70. The company has a fifty day simple moving average of $8.02 and a 200 day simple moving average of $9.98. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $23.90. The company has a current ratio of 4.89, a quick ratio of 4.77 and a debt-to-equity ratio of 0.72.

Enovix (NASDAQ:ENVXGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The firm had revenue of $5.27 million during the quarter, compared to analyst estimates of $4.16 million. Enovix had a negative net margin of 1,448.90% and a negative return on equity of 85.47%. Sell-side analysts anticipate that Enovix Co. will post -1.15 EPS for the current fiscal year.

Insider Transactions at Enovix

In related news, COO Ajay Marathe sold 4,954 shares of the stock in a transaction dated Sunday, April 14th. The shares were sold at an average price of $7.31, for a total value of $36,213.74. Following the completion of the sale, the chief operating officer now owns 978,913 shares in the company, valued at $7,155,854.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 17.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ENVX. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 target price on shares of Enovix in a report on Wednesday, February 21st. Craig Hallum reduced their price objective on Enovix from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective on Enovix from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. William Blair reiterated an “outperform” rating on shares of Enovix in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Thursday, April 25th. 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 data from MarketBeat.com, Enovix presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

View Our Latest Report on ENVX

About Enovix

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Enovix (NASDAQ:ENVX)

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