Charles Schwab Investment Management Inc. Has $14.66 Million Stake in Enovix Co. (NASDAQ:ENVX)

Charles Schwab Investment Management Inc. grew its stake in shares of Enovix Co. (NASDAQ:ENVX) by 9.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,348,340 shares of the company’s stock after purchasing an additional 119,288 shares during the period. Charles Schwab Investment Management Inc. owned about 0.76% of Enovix worth $14,656,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ENVX. Geode Capital Management LLC grew its holdings in Enovix by 5.4% during the third quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock worth $33,477,000 after buying an additional 182,757 shares in the last quarter. Stifel Financial Corp boosted its holdings in Enovix by 6.2% during the 3rd quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock worth $8,875,000 after acquiring an additional 55,094 shares during the last quarter. Old West Investment Management LLC grew its stake in shares of Enovix by 12.3% in the 3rd quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock worth $8,759,000 after acquiring an additional 102,452 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of Enovix by 2,468.6% in the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock worth $5,498,000 after acquiring an additional 565,698 shares in the last quarter. Finally, Refined Wealth Management raised its holdings in shares of Enovix by 6.7% in the fourth quarter. Refined Wealth Management now owns 568,606 shares of the company’s stock valued at $6,181,000 after purchasing an additional 35,652 shares during the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Craig Hallum cut their price target on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Insiders Place Their Bets

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the sale, the chief executive officer now owns 2,045,301 shares of the company’s stock, valued at $19,123,564.35. The trade was a 12.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 15.70% of the company’s stock.

Enovix Trading Down 2.1 %

NASDAQ:ENVX opened at $7.96 on Friday. The firm’s 50 day moving average is $10.23 and its 200 day moving average is $10.04. Enovix Co. has a 12 month low of $5.70 and a 12 month high of $18.68. The stock has a market capitalization of $1.52 billion, a PE ratio of -5.49 and a beta of 1.93. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

Enovix (NASDAQ:ENVX) last issued its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. Sell-side analysts expect that Enovix Co. will post -1.01 earnings per share 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.