Enovix Corporation $ENVX Stake Cut by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in shares of Enovix Corporation (NASDAQ:ENVX) by 14.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,371 shares of the company’s stock after selling 6,887 shares during the period. Bank of Montreal Can’s holdings in Enovix were worth $428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ENVX. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Enovix during the 2nd quarter worth approximately $13,206,000. Y Intercept Hong Kong Ltd bought a new position in Enovix during the 2nd quarter worth $3,612,000. Driehaus Capital Management LLC grew its stake in Enovix by 1.8% during the 1st quarter. Driehaus Capital Management LLC now owns 2,323,612 shares of the company’s stock worth $17,055,000 after buying an additional 41,559 shares during the last quarter. L & S Advisors Inc increased its position in Enovix by 50.6% in the first quarter. L & S Advisors Inc now owns 191,975 shares of the company’s stock worth $1,409,000 after buying an additional 64,471 shares during the period. Finally, Blair William & Co. IL lifted its stake in Enovix by 18.2% in the first quarter. Blair William & Co. IL now owns 308,795 shares of the company’s stock valued at $2,267,000 after buying an additional 47,477 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Enovix Trading Up 0.7%

NASDAQ ENVX opened at $7.50 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.47 and a current ratio of 9.72. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -9.26 and a beta of 2.09. The firm’s 50 day moving average price is $10.65 and its two-hundred day moving average price is $10.33. Enovix Corporation has a twelve month low of $5.27 and a twelve month high of $16.49.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Tuesday, September 9th. The company reported ($0.13) earnings per share for the quarter. The company had revenue of $7.47 million during the quarter. Enovix had a negative net margin of 525.93% and a negative return on equity of 61.78%. Equities analysts anticipate that Enovix Corporation will post -1.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Enovix from a “hold” rating to a “sell” rating in a research note on Saturday, September 6th. Cantor Fitzgerald lowered their price target on Enovix from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Canaccord Genuity Group reduced their price target on shares of Enovix from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. decreased their price objective on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Finally, Northland Securities set a $16.00 target price on Enovix in a report on Monday. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.50.

Insider Transactions at Enovix

In other news, COO Ajay Marathe sold 120,000 shares of Enovix stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $12.01, for a total transaction of $1,441,200.00. Following the sale, the chief operating officer owned 1,027,259 shares of the company’s stock, valued at approximately $12,337,380.59. This trade represents a 10.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.10% of the stock is owned by corporate insiders.

Enovix Company 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.