Enovix Co. (NASDAQ:ENVX) Position Increased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its holdings in Enovix Co. (NASDAQ:ENVX) by 52.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 272,047 shares of the company’s stock after buying an additional 93,303 shares during the period. Oppenheimer & Co. Inc. owned about 0.15% of Enovix worth $2,541,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ENVX. Blue Trust Inc. boosted its stake in Enovix by 102.1% in the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after acquiring an additional 957 shares during the period. GAMMA Investing LLC boosted its position in Enovix by 11,176.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock valued at $37,000 after purchasing an additional 2,347 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Enovix during the 2nd quarter worth $39,000. Beacon Capital Management LLC increased its position in Enovix by 71.9% in the first quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock worth $34,000 after buying an additional 1,798 shares during the period. Finally, Voisard Asset Management Group Inc. lifted its stake in Enovix by 25.0% in the second quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock valued at $77,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 50.92% of the company’s stock.

Insider Activity

In other Enovix news, insider Arthi Chakravarthy sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $13.00, for a total transaction of $455,000.00. Following the sale, the insider now owns 343,305 shares in the company, valued at approximately $4,462,965. The trade was a 9.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.70% of the company’s stock.

Enovix Trading Down 4.2 %

Shares of ENVX stock opened at $8.48 on Friday. The stock has a 50-day simple moving average of $9.98 and a 200 day simple moving average of $11.29. The stock has a market capitalization of $1.51 billion, a P/E ratio of -5.27 and a beta of 1.99. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week 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.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.30 million for the quarter, compared to analysts’ expectations of $4.11 million. During the same quarter in the previous year, the company posted ($0.27) EPS. On average, sell-side analysts expect that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price objective (down previously from $23.00) on shares of Enovix in a report on Monday, August 5th. Janney Montgomery Scott cut Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a report on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. TD Cowen lifted their target price on Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Benchmark reissued a “buy” rating and issued a $25.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Two research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

Enovix Company 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.