Barclays PLC Has $2.35 Million Holdings in Enovix Co. (NASDAQ:ENVX)

Barclays PLC boosted its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 376.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,012 shares of the company’s stock after buying an additional 199,166 shares during the quarter. Barclays PLC owned about 0.14% of Enovix worth $2,353,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Enovix in the 2nd quarter valued at approximately $39,000. Prospera Private Wealth LLC acquired a new position in Enovix during the third quarter valued at approximately $27,000. Headlands Technologies LLC bought a new position in shares of Enovix in the second quarter valued at approximately $97,000. Voisard Asset Management Group Inc. lifted its stake in shares of Enovix by 40.0% in the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock worth $65,000 after buying an additional 2,000 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Enovix by 318.5% during the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock worth $77,000 after buying an additional 6,294 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insider Transactions at Enovix

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the transaction, the director now directly owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arthi Chakravarthy sold 35,000 shares of the 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 sale, the insider now owns 343,305 shares of the company’s stock, valued at $4,462,965. This trade represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.70% of the company’s stock.

Enovix Price Performance

Shares of ENVX stock opened at $10.08 on Thursday. 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 Co. has a 12 month low of $5.70 and a 12 month high of $18.68. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -6.26 and a beta of 1.94. The stock has a 50-day moving average price of $9.57 and a 200 day moving average price of $11.18.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. The business had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same period in the previous year, the firm posted ($0.27) earnings per share. Research analysts expect that Enovix Co. will post -1.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ENVX shares. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut 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. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Enovix in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Enovix has a consensus rating of “Moderate Buy” and an average price target of $20.50.

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.