Moody National Bank Trust Division Sells 34,706 Shares of Enovix Co. (NASDAQ:ENVX)

Moody National Bank Trust Division trimmed its holdings in Enovix Co. (NASDAQ:ENVX) by 59.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,011 shares of the company’s stock after selling 34,706 shares during the quarter. Moody National Bank Trust Division’s holdings in Enovix were worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ENVX. Amalgamated Bank grew its position in Enovix by 5.9% during the 3rd quarter. Amalgamated Bank now owns 20,827 shares of the company’s stock valued at $261,000 after purchasing an additional 1,154 shares during the last quarter. Swiss National Bank grew its position in Enovix by 7.9% during the 3rd quarter. Swiss National Bank now owns 278,100 shares of the company’s stock valued at $3,490,000 after purchasing an additional 20,400 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Enovix by 16.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,034,802 shares of the company’s stock valued at $12,987,000 after purchasing an additional 146,028 shares during the last quarter. Pathstone Family Office LLC purchased a new stake in Enovix during the 3rd quarter valued at about $161,000. Finally, UBS Group AG grew its position in Enovix by 8.3% during the 3rd quarter. UBS Group AG now owns 445,313 shares of the company’s stock valued at $5,589,000 after purchasing an additional 34,177 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENVX has been the topic of several recent analyst reports. William Blair reissued an “outperform” rating on shares of Enovix in a research report on Thursday, May 2nd. Craig Hallum dropped their price target on shares of Enovix from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. B. Riley dropped their price target on shares of Enovix from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price target on shares of Enovix in a report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Enovix has a consensus rating of “Moderate Buy” and a consensus price target of $18.33.

Enovix Price Performance

Shares of NASDAQ:ENVX opened at $12.46 on Thursday. The firm’s 50 day moving average price is $9.22 and its 200-day moving average price is $10.01. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $23.90. The company has a quick ratio of 4.77, a current ratio of 4.89 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $2.12 billion, a PE ratio of -9.30 and a beta of 1.95.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.05). Enovix had a negative return on equity of 85.47% and a negative net margin of 1,448.90%. The business had revenue of $5.27 million during the quarter, compared to the consensus estimate of $4.16 million. Equities research analysts expect that Enovix Co. will post -1.15 EPS for the current year.

Insider Transactions at Enovix

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the firm’s stock in a transaction that occurred on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total transaction of $36,213.74. Following the sale, the chief operating officer now owns 978,913 shares in the company, valued at approximately $7,155,854.03. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 17.30% of the company’s stock.

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.