SG Americas Securities LLC Buys 38,076 Shares of Enovix Co. (NASDAQ:ENVX)

SG Americas Securities LLC increased its holdings in Enovix Co. (NASDAQ:ENVX) by 427.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,989 shares of the company’s stock after acquiring an additional 38,076 shares during the period. SG Americas Securities LLC’s holdings in Enovix were worth $439,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Enovix by 102.1% in the 2nd quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock worth $29,000 after acquiring an additional 957 shares during the last quarter. Beacon Capital Management LLC raised its holdings in shares of Enovix by 71.9% in the 1st quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock worth $34,000 after acquiring an additional 1,798 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Enovix by 11,176.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock worth $37,000 after acquiring an additional 2,347 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Enovix in the 2nd quarter worth about $39,000. Finally, Voisard Asset Management Group Inc. raised its holdings in shares of Enovix by 25.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock worth $77,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Down 7.0 %

ENVX opened at $11.09 on Thursday. The company has a 50 day moving average of $9.98 and a 200 day moving average of $10.82. The company has a market cap of $1.89 billion, a PE ratio of -8.28 and a beta of 1.98. Enovix Co. has a 12 month low of $5.70 and a 12 month high of $18.68. The company has a current ratio of 3.98, a quick ratio of 3.84 and a debt-to-equity ratio of 0.97.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. The company had revenue of $3.77 million during the quarter, compared to the consensus estimate of $3.85 million. Enovix had a negative net margin of 1,434.34% and a negative return on equity of 91.21%. On average, sell-side analysts expect that Enovix Co. will post -1.21 EPS for the current year.

Insider Buying and Selling

In other Enovix news, insider Arthi Chakravarthy sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ENVX. Benchmark began coverage on shares of Enovix in a report on Monday, July 22nd. They issued a “buy” rating and a $25.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a research note on Thursday, August 1st. B. Riley upgraded shares of Enovix to a “strong-buy” rating in a research note on Tuesday, June 25th. Oppenheimer reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enovix in a research note on Monday, August 26th. Finally, Canaccord Genuity Group increased their price objective on shares of Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $21.33.

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.