Caprock Group LLC Purchases Shares of 26,149 Enovix Co. (NASDAQ:ENVX)

Caprock Group LLC bought a new position in Enovix Co. (NASDAQ:ENVX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 26,149 shares of the company’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENVX. Sei Investments Co. acquired a new position in shares of Enovix in the second quarter worth about $555,000. The Manufacturers Life Insurance Company raised its holdings in Enovix by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 85,403 shares of the company’s stock worth $1,320,000 after purchasing an additional 6,484 shares during the period. Algert Global LLC purchased a new position in Enovix during the second quarter worth approximately $223,000. Creative Planning grew its holdings in Enovix by 53.7% in the second quarter. Creative Planning now owns 33,084 shares of the company’s stock valued at $511,000 after purchasing an additional 11,554 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of Enovix by 81.5% in the second quarter. Cetera Investment Advisers now owns 89,228 shares of the company’s stock valued at $1,379,000 after buying an additional 40,055 shares in the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on ENVX. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their target price on Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Two 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Insider Buying and Selling at Enovix

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now directly owns 99,497 shares in the company, valued at $968,105.81. This represents a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.70% of the stock is owned by corporate insiders.

Enovix Stock Up 1.7 %

Shares of NASDAQ:ENVX opened at $11.76 on Friday. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. The firm’s 50-day moving average is $10.77 and its two-hundred day moving average is $10.51. The firm has a market capitalization of $2.09 billion, a PE ratio of -7.30 and a beta of 1.87. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61.

Enovix 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.