Enovix Co. (NASDAQ:ENVX) Shares Sold by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC lessened its stake in shares of Enovix Co. (NASDAQ:ENVX) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,815 shares of the company’s stock after selling 3,300 shares during the quarter. Gladstone Institutional Advisory LLC owned about 0.10% of Enovix worth $2,020,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fred Alger Management LLC raised its position 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 last quarter. Sora Investors LLC increased its stake in shares of Enovix by 75.0% during the third quarter. Sora Investors LLC now owns 525,000 shares of the company’s stock worth $4,904,000 after acquiring an additional 225,000 shares during the period. Barclays PLC raised its holdings in Enovix by 376.9% during the third quarter. Barclays PLC now owns 252,012 shares of the company’s stock worth $2,353,000 after purchasing an additional 199,166 shares in the last quarter. Geode Capital Management LLC lifted its position in Enovix by 5.4% in the third quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock valued at $33,477,000 after purchasing an additional 182,757 shares during the period. Finally, Meridian Wealth Management LLC purchased a new stake in Enovix in the 3rd quarter valued at approximately $1,066,000. 50.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ENVX has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Wednesday, October 30th. Finally, Janney Montgomery Scott downgraded Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.50.

Enovix Stock Up 3.1 %

NASDAQ:ENVX opened at $10.90 on Thursday. The company’s 50-day moving average is $10.89 and its two-hundred day moving average is $10.37. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68.

Insider Buying and Selling

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 99,497 shares in the company, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 15.70% of the stock is owned by company insiders.

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.