Enovix Co. (NASDAQ:ENVX) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG increased its holdings in Enovix Co. (NASDAQ:ENVX) by 44.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 140,606 shares of the company’s stock after acquiring an additional 43,498 shares during the quarter. Deutsche Bank AG owned approximately 0.08% of Enovix worth $1,528,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of Enovix by 66.7% in the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Enovix during the fourth quarter valued at approximately $27,000. Sava Infond d.o.o. acquired a new stake in Enovix during the fourth quarter valued at approximately $43,000. Hollencrest Capital Management raised its stake in Enovix by 61.4% during the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock valued at $57,000 after buying an additional 2,000 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Enovix during the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insider Buying and Selling

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,045,301 shares of the company’s stock, valued at $19,123,564.35. This represents a 12.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 15.70% of the company’s stock.

Enovix Stock Performance

Shares of ENVX stock opened at $7.77 on Friday. Enovix Co. has a 12-month low of $5.27 and a 12-month high of $18.68. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -5.36 and a beta of 1.99. The business has a 50 day simple moving average of $6.96 and a 200 day simple moving average of $9.02. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The business had revenue of $9.72 million during the quarter, compared to analyst estimates of $8.77 million. On average, equities research analysts anticipate that Enovix Co. will post -1.01 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. B. Riley cut their price objective on Enovix from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. TD Securities cut their price objective on Enovix from $10.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective on Enovix from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, Benchmark lowered their target price on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Enovix has an average rating of “Moderate Buy” and a consensus price target of $17.27.

Enovix Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.