Enovix Co. (NASDAQ:ENVX) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 34.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,077 shares of the company’s stock after purchasing an additional 5,162 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Enovix were worth $188,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ENVX. Janney Montgomery Scott LLC lifted its position in Enovix by 19.2% during the first quarter. Janney Montgomery Scott LLC now owns 116,746 shares of the company’s stock worth $935,000 after buying an additional 18,767 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Enovix by 439.8% during the 1st quarter. SG Americas Securities LLC now owns 116,662 shares of the company’s stock worth $934,000 after acquiring an additional 95,049 shares during the period. Swiss National Bank boosted its position in shares of Enovix by 5.0% in the first quarter. Swiss National Bank now owns 281,600 shares of the company’s stock worth $2,256,000 after acquiring an additional 13,400 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Enovix by 14.8% in the first quarter. Avantax Advisory Services Inc. now owns 26,187 shares of the company’s stock valued at $210,000 after purchasing an additional 3,384 shares during the period. Finally, ProShare Advisors LLC increased its position in Enovix by 8.5% during the first quarter. ProShare Advisors LLC now owns 24,915 shares of the company’s stock worth $200,000 after purchasing an additional 1,960 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on Enovix from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer reiterated an “outperform” rating and set a $36.00 target price on shares of Enovix in a report on Monday, August 26th. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price target (down from $23.00) on shares of Enovix in a research report on Monday, August 5th. Finally, Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Enovix Stock Down 7.7 %

Shares of Enovix stock opened at $9.22 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. The business has a 50-day moving average of $9.94 and a 200-day moving average of $11.26. The company has a market capitalization of $1.64 billion, a PE ratio of -6.20 and a beta of 1.99.

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

Insider Transactions at Enovix

In related news, insider Arthi Chakravarthy sold 35,000 shares of Enovix stock in a transaction dated 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 in the company, valued at approximately $4,462,965. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.70% of the company’s stock.

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.