M&T Bank Corp acquired a new stake in Enovix Co. (NASDAQ:ENVX – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,790 shares of the company’s stock, valued at approximately $183,000.
Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Enovix by 5.4% in the third quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock valued at $33,477,000 after acquiring an additional 182,757 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Enovix by 9.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,348,340 shares of the company’s stock valued at $14,656,000 after buying an additional 119,288 shares during the last quarter. Stifel Financial Corp increased its holdings in Enovix by 6.2% in the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after buying an additional 55,094 shares during the last quarter. Old West Investment Management LLC increased its holdings in Enovix by 12.3% in the third quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock valued at $8,759,000 after buying an additional 102,452 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in Enovix by 2,468.6% in the third quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock valued at $5,498,000 after buying an additional 565,698 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Rajendra K. Talluri sold 300,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the transaction, the chief executive officer now owns 2,045,301 shares of the company’s stock, valued at $19,123,564.35. This trade represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 15.70% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Research Report on ENVX
Enovix Stock Up 6.1 %
ENVX opened at $7.65 on Friday. The business’s 50-day simple moving average is $10.61 and its 200-day simple moving average is $10.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. Enovix Co. has a one year low of $5.70 and a one year high of $18.68. The stock has a market capitalization of $1.46 billion, a P/E ratio of -5.28 and a beta of 1.94.
Enovix (NASDAQ:ENVX – Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The firm had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Analysts anticipate that Enovix Co. will post -1.01 EPS for the current year.
About Enovix
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.
See Also
- Five stocks we like better than Enovix
- The Risks of Owning Bonds
- Ignore Reports, Apple Won’t Install Starlink with iOS 18.3
- Investing in Construction Stocks
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
Receive News & Ratings for Enovix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enovix and related companies with MarketBeat.com's FREE daily email newsletter.