Enovix Co. (NASDAQ:ENVX) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its stake in Enovix Co. (NASDAQ:ENVX) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,762 shares of the company’s stock after acquiring an additional 6,715 shares during the period. Oppenheimer & Co. Inc. owned 0.16% of Enovix worth $3,030,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nwam LLC increased its position in shares of Enovix by 14.0% in the 4th quarter. Nwam LLC now owns 11,907 shares of the company’s stock worth $129,000 after purchasing an additional 1,458 shares during the last quarter. Cutter & CO Brokerage Inc. increased its holdings in Enovix by 9.5% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 41,443 shares of the company’s stock valued at $450,000 after buying an additional 3,596 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Enovix by 6.1% during the fourth quarter. Bank of New York Mellon Corp now owns 501,539 shares of the company’s stock valued at $5,452,000 after buying an additional 28,905 shares in the last quarter. Rothschild Investment LLC lifted its holdings in Enovix by 28.4% during the 4th quarter. Rothschild Investment LLC now owns 63,675 shares of the company’s stock worth $692,000 after buying an additional 14,075 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Enovix in the 4th quarter worth approximately $1,380,000. 50.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ENVX shares. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum dropped their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.30.

Enovix Trading Down 1.3 %

Shares of NASDAQ:ENVX opened at $8.92 on Friday. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $11.22 and its 200 day moving average price is $10.25. The company has a market cap of $1.59 billion, a PE ratio of -6.15 and a beta of 1.87. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Sell-side analysts anticipate that Enovix Co. will post -1.01 earnings per share for the current year.

Insiders Place Their Bets

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the sale, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total transaction of $729,750.00. Following the completion of the transaction, the director now owns 99,497 shares of the company’s stock, valued at $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 currently owned by insiders.

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.