Nwam LLC Has $129,000 Position in Enovix Co. (NASDAQ:ENVX)

Nwam LLC boosted its position in Enovix Co. (NASDAQ:ENVX) by 14.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,907 shares of the company’s stock after purchasing an additional 1,458 shares during the period. Nwam LLC’s holdings in Enovix were worth $129,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ENVX. Geode Capital Management LLC increased its holdings in shares of Enovix by 5.4% during the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $11,479,000 after purchasing an additional 73,320 shares during the last quarter. Stifel Financial Corp raised its position in shares of Enovix by 6.2% in the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after purchasing an additional 55,094 shares during the period. Old West Investment Management LLC lifted its stake 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 worth $8,759,000 after buying an additional 102,452 shares during the last quarter. Finally, Fred Alger Management LLC boosted its holdings in shares of Enovix by 2,468.6% during the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock worth $5,498,000 after buying an additional 565,698 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insider Transactions at Enovix

In related news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now directly owns 99,497 shares of the company’s stock, valued at $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $19,123,564.35. This represents a 12.79 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.70% of the company’s stock.

Wall Street Analyst Weigh In

ENVX has been the subject of several research reports. Craig Hallum cut 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. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Thursday, February 20th. Two 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Enovix Price Performance

ENVX stock opened at $8.92 on Monday. The company’s 50-day moving average price is $11.22 and its two-hundred day moving average price is $10.25. Enovix Co. has a 12 month low of $5.70 and a 12 month high of $18.68. 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 firm has a market cap of $1.71 billion, a P/E ratio of -6.15 and a beta of 1.87.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share 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. On average, analysts anticipate 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.