Creative Planning Has $274,000 Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Creative Planning decreased its position in shares of Enovix Co. (NASDAQ:ENVX) by 11.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,361 shares of the company’s stock after selling 3,723 shares during the quarter. Creative Planning’s holdings in Enovix were worth $274,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ENVX. Arizona State Retirement System raised its position in shares of Enovix by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 40,097 shares of the company’s stock valued at $620,000 after acquiring an additional 905 shares during the last quarter. Blue Trust Inc. raised its position in shares of Enovix by 102.1% during the 2nd quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after acquiring an additional 957 shares during the last quarter. Voisard Asset Management Group Inc. raised its position in shares of Enovix by 25.0% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock valued at $77,000 after acquiring an additional 1,000 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Enovix by 7.7% during the 2nd quarter. Principal Financial Group Inc. now owns 20,079 shares of the company’s stock valued at $310,000 after acquiring an additional 1,434 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC raised its position in shares of Enovix by 9.7% during the 2nd quarter. Kohmann Bosshard Financial Services LLC now owns 17,000 shares of the company’s stock valued at $263,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insider Transactions at Enovix

In other news, insider Arthi Chakravarthy sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $13.00, for a total transaction of $455,000.00. Following the completion of the transaction, the insider now directly owns 343,305 shares in the company, valued at $4,462,965. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 15.70% of the company’s stock.

Enovix Trading Up 4.9 %

Enovix stock opened at $9.38 on Friday. The firm has a 50-day moving average of $9.93 and a 200-day moving average of $11.20. Enovix Co. has a one year low of $5.70 and a one year high of $18.68. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -5.83 and a beta of 1.99.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The company had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. During the same period in the prior year, the business posted ($0.27) EPS. On average, equities analysts expect that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ENVX shares. Piper Sandler restated an “overweight” rating and issued a $19.00 price objective (down previously from $23.00) on shares of Enovix in a research report on Monday, August 5th. Benchmark restated a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and issued a $36.00 price objective on shares of Enovix in a research report on Monday, August 26th. Canaccord Genuity Group upped their price objective on shares of Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

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.