Fox Run Management L.L.C. Has $181,000 Stake in Enovix Co. (NASDAQ:ENVX)

Fox Run Management L.L.C. cut its holdings in Enovix Co. (NASDAQ:ENVX) by 46.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,690 shares of the company’s stock after selling 14,553 shares during the quarter. Fox Run Management L.L.C.’s holdings in Enovix were worth $181,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Fifth Third Bancorp boosted its position in shares of Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after purchasing an additional 1,000 shares during the last quarter. Hodges Capital Management Inc. grew its position in shares of Enovix by 1.8% during the 4th quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company’s stock worth $625,000 after buying an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of Enovix by 6.2% in the 4th 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 last quarter. Victory Capital Management Inc. raised its position in shares of Enovix by 6.8% in the 4th 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 stake in Enovix by 6.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock worth $202,000 after acquiring an additional 1,367 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Analyst Upgrades and Downgrades

ENVX has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Craig Hallum lowered their price objective on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Enovix Stock Performance

ENVX opened at $7.48 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -5.16 and a beta of 1.93. The business’s 50-day moving average price is $9.92 and its two-hundred day moving average price is $10.03. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68.

Enovix (NASDAQ:ENVX) last released its 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. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The firm had revenue of $9.72 million for the quarter, compared to analysts’ expectations of $8.77 million. Equities analysts expect that Enovix Co. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the transaction, the chief executive officer now directly 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 is accessible through this hyperlink. 15.70% of the stock is currently owned by corporate insiders.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.