Xponance Inc. Acquires 1,738 Shares of Enovix Co. (NASDAQ:ENVX)

Xponance Inc. raised its holdings in Enovix Co. (NASDAQ:ENVX) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,810 shares of the company’s stock after acquiring an additional 1,738 shares during the period. Xponance Inc.’s holdings in Enovix were worth $128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its position in Enovix by 66.7% in the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after buying an additional 1,000 shares in the last quarter. Hollencrest Capital Management lifted its holdings in Enovix by 61.4% in the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock valued at $57,000 after buying an additional 2,000 shares during the period. R Squared Ltd acquired a new position in shares of Enovix in the 4th quarter valued at about $64,000. SRS Capital Advisors Inc. bought a new position in shares of Enovix during the 4th quarter worth approximately $87,000. Finally, Quest Partners LLC grew its holdings in Enovix by 318.5% in the third quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock worth $77,000 after purchasing an additional 6,294 shares during the period. Institutional investors own 50.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ENVX shares. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a report on Thursday, February 20th. Craig Hallum dropped their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research 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 given a strong buy rating to the stock. According to MarketBeat, Enovix has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Insider Activity

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

Enovix Stock Down 6.6 %

Enovix stock opened at $7.48 on Friday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -5.16 and a beta of 1.93. The firm has a 50 day simple moving average of $9.92 and a 200 day simple moving average of $10.04. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. 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 released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. The company 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%. On average, analysts predict that Enovix Co. will post -1.01 earnings per share for the current year.

Enovix Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.