75,000 Shares in Enovix Co. (NASDAQ:ENVX) Purchased by One Wealth Advisors LLC

One Wealth Advisors LLC purchased a new position in Enovix Co. (NASDAQ:ENVX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 75,000 shares of the company’s stock, valued at approximately $700,000.

Several other hedge funds have also recently added to or reduced their stakes in ENVX. Wellington Management Group LLP raised its position in Enovix by 8.2% in the fourth quarter. Wellington Management Group LLP now owns 628,712 shares of the company’s stock worth $7,871,000 after purchasing an additional 47,853 shares in the last quarter. Vanguard Group Inc. raised its position in Enovix by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 12,928,993 shares of the company’s stock worth $161,871,000 after purchasing an additional 513,508 shares in the last quarter. Salem Investment Counselors Inc. raised its position in Enovix by 34.8% in the first quarter. Salem Investment Counselors Inc. now owns 155,045 shares of the company’s stock worth $1,242,000 after purchasing an additional 40,000 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in Enovix by 65.2% in the first quarter. Game Plan Financial Advisors LLC now owns 10,135 shares of the company’s stock worth $81,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in Enovix by 36.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 14,694 shares of the company’s stock worth $118,000 after purchasing an additional 3,936 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Wall Street Analyst Weigh In

ENVX has been the topic of several research analyst reports. Craig Hallum upped their price objective on shares of Enovix from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enovix in a research note on Monday, August 26th. TD Cowen upped their price objective on shares of Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Canaccord Genuity Group upped their price objective on shares of Enovix from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price objective (down from $23.00) on shares of Enovix in a research note on Monday, August 5th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $21.33.

Insider Buying and Selling

In related news, insider Arthi Chakravarthy sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $13.00, for a total transaction of $455,000.00. Following the sale, the insider now directly owns 343,305 shares in the company, valued at $4,462,965. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.30% of the stock is currently owned by company insiders.

Enovix Trading Up 2.5 %

ENVX traded up $0.28 during mid-day trading on Thursday, hitting $11.37. The stock had a trading volume of 994,149 shares, compared to its average volume of 5,473,489. The stock’s fifty day simple moving average is $9.98 and its 200-day simple moving average is $10.82. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.98 and a quick ratio of 3.84. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -8.63 and a beta of 1.98. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, July 31st. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.04. Enovix had a negative net margin of 1,434.34% and a negative return on equity of 91.21%. The company had revenue of $3.77 million for the quarter, compared to analyst estimates of $3.85 million. As a group, research analysts forecast that Enovix Co. will post -1.21 EPS for the current fiscal year.

Enovix Company 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.