SlateStone Wealth LLC Purchases Shares of 10,283 Enovix Co. (NASDAQ:ENVX)

SlateStone Wealth LLC acquired a new stake in Enovix Co. (NASDAQ:ENVX) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 10,283 shares of the company’s stock, valued at approximately $112,000.

Several other large investors have also modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Enovix by 66.7% in the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after acquiring an additional 1,000 shares during the period. Hodges Capital Management Inc. boosted its holdings in shares of Enovix by 1.8% in the fourth quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company’s stock valued at $625,000 after acquiring an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in shares of Enovix by 6.2% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company’s stock valued at $228,000 after acquiring an additional 1,214 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Enovix by 6.8% in the fourth quarter. Victory Capital Management Inc. now owns 19,695 shares of the company’s stock valued at $214,000 after acquiring an additional 1,257 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Enovix by 6.7% in the third quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock valued at $202,000 after acquiring an additional 1,367 shares during the period. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Enovix

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the transaction, the chief executive officer now owns 2,045,301 shares in the company, valued at $19,123,564.35. This trade represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ENVX shares. Craig Hallum decreased their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Enovix in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Enovix Price Performance

Enovix stock opened at $8.17 on Tuesday. Enovix Co. has a one year low of $5.70 and a one year high of $18.68. 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 business has a fifty day moving average of $10.53 and a two-hundred day moving average of $10.08. The company has a market cap of $1.56 billion, a P/E ratio of -5.63 and a beta of 1.93.

Enovix (NASDAQ:ENVX) last released its earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The company had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. As a group, analysts predict that Enovix Co. will post -1.01 earnings per share for the current fiscal year.

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.