Enovix Co. (NASDAQ:ENVX) Stock Holdings Lifted by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. lifted its position in Enovix Co. (NASDAQ:ENVX) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,443 shares of the company’s stock after acquiring an additional 3,596 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Enovix were worth $450,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ENVX. Geode Capital Management LLC grew 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 worth $33,477,000 after acquiring an additional 182,757 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Enovix by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the company’s stock worth $11,479,000 after buying an additional 73,320 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Enovix by 6.2% in the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock worth $8,875,000 after buying an additional 55,094 shares during the last quarter. Old West Investment Management LLC lifted its stake in shares of Enovix by 12.3% in the third quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock worth $8,759,000 after buying an additional 102,452 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in Enovix by 2,468.6% during the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock valued at $5,498,000 after purchasing an additional 565,698 shares during the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENVX has been the subject of several research analyst reports. Craig Hallum cut their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Finally, Janney Montgomery Scott cut 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. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Enovix Stock Down 3.9 %

ENVX opened at $9.44 on Wednesday. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The firm’s 50-day simple moving average is $11.19 and its 200-day simple moving average is $10.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -6.51 and a beta of 1.87.

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

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.70% of the company’s stock.

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.