Enovix Co. (NASDAQ:ENVX) Shares Bought by Hollencrest Capital Management

Hollencrest Capital Management lifted its position in shares of Enovix Co. (NASDAQ:ENVX) by 61.4% during the 4th quarter, HoldingsChannel reports. The fund owned 5,256 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Hollencrest Capital Management’s holdings in Enovix were worth $57,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ENVX. Wealth Enhancement Advisory Services LLC boosted its position in Enovix by 34.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,077 shares of the company’s stock worth $188,000 after purchasing an additional 5,162 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Enovix by 9.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 133,002 shares of the company’s stock worth $1,242,000 after buying an additional 11,242 shares during the period. Old West Investment Management LLC lifted its position in shares of Enovix by 12.3% during the 3rd quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock valued at $8,759,000 after buying an additional 102,452 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Enovix by 52.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company’s stock valued at $2,541,000 after acquiring an additional 93,303 shares during the period. Finally, Intellectus Partners LLC increased its holdings in Enovix by 21.2% in the 3rd quarter. Intellectus Partners LLC now owns 47,200 shares of the company’s stock worth $441,000 after acquiring an additional 8,250 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Enovix

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the sale, the chief executive officer now owns 2,045,301 shares of the company’s stock, valued at approximately $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 15.70% of the company’s stock.

Enovix Stock Up 1.7 %

Shares of NASDAQ ENVX opened at $7.58 on Thursday. The stock has a market cap of $1.45 billion, a PE ratio of -5.23 and a beta of 1.94. The company has a 50-day moving average of $10.81 and a 200 day moving average of $10.13. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

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

Wall Street Analyst Weigh In

ENVX has been the topic of several recent analyst reports. 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 research report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Thursday, February 20th. Two investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.30.

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.