Oppenheimer & Co. Inc. Has $2.54 Million Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Oppenheimer & Co. Inc. boosted its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 52.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 272,047 shares of the company’s stock after buying an additional 93,303 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enovix were worth $2,541,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Enovix by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock valued at $104,881,000 after acquiring an additional 164,717 shares in the last quarter. Driehaus Capital Management LLC grew its stake in Enovix by 63.7% in the second quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock valued at $60,085,000 after purchasing an additional 1,512,424 shares in the last quarter. Masters Capital Management LLC increased its position in Enovix by 3.8% in the 1st quarter. Masters Capital Management LLC now owns 1,350,000 shares of the company’s stock worth $10,814,000 after purchasing an additional 50,000 shares during the last quarter. Old West Investment Management LLC raised 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 purchasing an additional 102,452 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Enovix by 13.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 573,026 shares of the company’s stock worth $8,859,000 after purchasing an additional 69,098 shares in the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENVX has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price target on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Thursday, October 31st. Craig Hallum raised their target price on Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, TD Cowen upped their price target on Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Insider Buying and Selling

In related news, insider Arthi Chakravarthy sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the transaction, the insider now directly owns 343,305 shares of the company’s stock, valued at $4,462,965. This trade represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.70% of the stock is owned by company insiders.

Enovix Stock Down 4.2 %

Shares of ENVX stock opened at $8.48 on Friday. 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 $1.51 billion, a PE ratio of -5.27 and a beta of 1.99. The stock has a 50 day moving average of $9.98 and a 200-day moving average of $11.29.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The firm had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. During the same period in the prior year, the firm earned ($0.27) EPS. On average, equities analysts predict that Enovix Co. will post -1.17 EPS for the current 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.