Enovix Co. (NASDAQ:ENVX) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Enovix Co. (NASDAQ:ENVX) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 501,539 shares of the company’s stock after acquiring an additional 28,905 shares during the period. Bank of New York Mellon Corp owned about 0.28% of Enovix worth $5,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Fifth Third Bancorp lifted its position in shares of Enovix by 66.7% in the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after purchasing an additional 1,000 shares in the last quarter. Hodges Capital Management Inc. increased its stake in Enovix by 1.8% in the 4th quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company’s stock valued at $625,000 after buying an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC lifted its position in Enovix by 6.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company’s stock worth $228,000 after buying an additional 1,214 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Enovix by 6.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock valued at $202,000 after buying an additional 1,367 shares during the period. Finally, PBMares Wealth Management LLC grew its holdings in shares of Enovix by 2.6% during the 4th quarter. PBMares Wealth Management LLC now owns 80,000 shares of the company’s stock valued at $870,000 after acquiring an additional 2,000 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Enovix

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,045,301 shares of the company’s stock, valued at $19,123,564.35. This represents a 12.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.70% of the stock is currently owned by corporate insiders.

Enovix Stock Up 6.8 %

ENVX opened at $8.17 on Tuesday. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The business has a 50 day moving average price of $10.53 and a 200 day moving average price of $10.08. The firm has a market cap of $1.56 billion, a P/E ratio of -5.63 and a beta of 1.93.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. Research analysts forecast that Enovix Co. will post -1.01 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum reduced their price target on Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enovix has an average rating of “Moderate Buy” and a consensus price target of $20.30.

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.