30,000 Shares in Enovix Co. (NASDAQ:ENVX) Acquired by Maven Securities LTD

Maven Securities LTD acquired a new stake in shares of Enovix Co. (NASDAQ:ENVX) in the third quarter, Holdings Channel reports. The fund acquired 30,000 shares of the company’s stock, valued at approximately $280,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC boosted its position in shares of Enovix by 63.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock valued at $60,085,000 after purchasing an additional 1,512,424 shares in the last quarter. Fred Alger Management LLC raised its holdings in Enovix by 2,468.6% during the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock worth $5,498,000 after buying an additional 565,698 shares during the period. Old West Investment Management LLC lifted its stake in Enovix by 47.6% during the second quarter. Old West Investment Management LLC now owns 835,386 shares of the company’s stock valued at $12,915,000 after buying an additional 269,371 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Enovix in the second quarter worth about $1,867,000. Finally, Meridian Wealth Management LLC purchased a new position in shares of Enovix in the third quarter worth approximately $1,066,000. 50.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ENVX has been the subject of a number of recent analyst reports. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $36.00 price objective on shares of Enovix in a research note on Monday, August 26th. JPMorgan Chase & Co. decreased their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a report on Wednesday, October 30th. Two 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Enovix Trading Down 7.6 %

Shares of NASDAQ:ENVX opened at $9.30 on Friday. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $1.66 billion, a PE ratio of -5.78 and a beta of 1.94. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. The firm has a fifty day moving average price of $10.12 and a 200 day moving average price of $11.32.

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

Insider Transactions at Enovix

In other Enovix news, insider Arthi Chakravarthy sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the sale, the insider now owns 343,305 shares of the company’s stock, valued at $4,462,965. This trade represents a 9.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Betsy S. Atkins sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.70% of the stock is owned by corporate insiders.

Enovix 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.