Enovix Co. (NASDAQ:ENVX) Shares Purchased by Udine Wealth Management Inc.

Udine Wealth Management Inc. raised its position in Enovix Co. (NASDAQ:ENVX) by 15.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,484 shares of the company’s stock after buying an additional 27,661 shares during the period. Enovix makes up about 1.3% of Udine Wealth Management Inc.’s holdings, making the stock its 21st biggest holding. Udine Wealth Management Inc. owned approximately 0.12% of Enovix worth $1,901,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Enovix by 1.3% in the first quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock valued at $104,881,000 after acquiring an additional 164,717 shares during the period. Driehaus Capital Management LLC grew its position in Enovix by 63.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock worth $60,085,000 after purchasing an additional 1,512,424 shares in the last quarter. Electron Capital Partners LLC grew its holdings in shares of Enovix by 20.0% during the 4th quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company’s stock valued at $40,556,000 after acquiring an additional 540,399 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Enovix by 2,228.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock worth $11,518,000 after purchasing an additional 1,376,253 shares in the last quarter. Finally, Masters Capital Management LLC boosted its holdings in Enovix by 3.8% in the first quarter. Masters Capital Management LLC now owns 1,350,000 shares of the company’s stock worth $10,814,000 after purchasing an additional 50,000 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Trading Down 2.4 %

ENVX stock opened at $11.82 on Wednesday. The company has a market capitalization of $2.01 billion, a PE ratio of -8.82 and a beta of 1.98. Enovix Co. has a one year low of $5.70 and a one year high of $18.68. The company’s 50 day moving average price is $9.94 and its two-hundred day moving average price is $10.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.84 and a current ratio of 3.98.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The business had revenue of $3.77 million for the quarter, compared to the consensus estimate of $3.85 million. Enovix had a negative net margin of 1,434.34% and a negative return on equity of 91.21%. As a group, analysts predict that Enovix Co. will post -1.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price objective (down previously from $23.00) on shares of Enovix in a research report on Monday, August 5th. Benchmark started coverage on shares of Enovix in a report on Monday, July 22nd. They issued a “buy” rating and a $25.00 target price on the stock. TD Cowen raised their target price on shares of Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. B. Riley raised shares of Enovix to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, Canaccord Genuity Group raised their target price on shares of Enovix from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Enovix has a consensus rating of “Buy” and a consensus target price of $21.33.

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.