Perennial Investment Advisors LLC Increases Holdings in Enovix Co. (NASDAQ:ENVX)

Perennial Investment Advisors LLC grew its stake in shares of Enovix Co. (NASDAQ:ENVX) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 211,604 shares of the company’s stock after acquiring an additional 8,048 shares during the quarter. Perennial Investment Advisors LLC owned about 0.12% of Enovix worth $2,300,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ENVX. Old West Investment Management LLC increased its holdings in shares of Enovix by 12.3% in 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. Charles Schwab Investment Management Inc. lifted its stake in Enovix by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the company’s stock valued at $11,479,000 after acquiring an additional 73,320 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Enovix by 6.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock valued at $202,000 after acquiring an additional 1,367 shares during the last quarter. Janus Henderson Group PLC lifted its position in Enovix by 22.7% during the third quarter. Janus Henderson Group PLC now owns 69,647 shares of the company’s stock valued at $650,000 after purchasing an additional 12,882 shares during the period. Finally, Maven Securities LTD purchased a new stake in Enovix in the third quarter worth approximately $280,000. 50.92% of the stock is owned by hedge funds and other institutional investors.

Enovix Stock Down 4.8 %

ENVX opened at $6.31 on Friday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -4.35 and a beta of 1.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The firm’s fifty day moving average is $9.46 and its 200 day moving average is $9.96. Enovix Co. has a fifty-two week low of $5.69 and a fifty-two week high of $18.68.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.77 million. On average, sell-side analysts forecast that Enovix Co. will post -1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ENVX has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Craig Hallum lowered their target price on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.30.

Insider Transactions at Enovix

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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.70% of the company’s stock.

Enovix 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.