Enovix Co. (NASDAQ:ENVX) Shares Bought by ARS Investment Partners LLC

by · The Markets Daily

ARS Investment Partners LLC increased its stake in shares of Enovix Co. (NASDAQ:ENVX – Free Report) by 14.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company’s stock after purchasing an additional 6,500 shares during the period. ARS Investment Partners LLC’s holdings in Enovix were worth $544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lpwm LLC purchased a new stake in Enovix in the 4th quarter valued at approximately $549,000. Oppenheimer & Co. Inc. lifted its stake in Enovix by 52.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company’s stock valued at $2,541,000 after buying an additional 93,303 shares in the last quarter. Stifel Financial Corp lifted its stake in Enovix by 6.2% in the 3rd quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after buying an additional 55,094 shares in the last quarter. One Wealth Advisors LLC purchased a new stake in Enovix in the 3rd quarter valued at approximately $700,000. Finally, Driehaus Capital Management LLC lifted its stake in Enovix by 63.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock valued at $60,085,000 after buying an additional 1,512,424 shares in the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Benchmark reiterated a “buy” rating and issued a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Janney Montgomery Scott downgraded Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.50.

Check Out Our Latest Report on Enovix

Insider Transactions at Enovix

In related news, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total transaction of $729,750.00. Following the sale, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.70% of the company’s stock.

Enovix Stock Down 2.1 %

NASDAQ:ENVX opened at $10.72 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The firm has a 50-day moving average of $10.06 and a two-hundred day moving average of $10.91. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68.

Enovix (NASDAQ:ENVX – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The company had revenue of $4.30 million during the quarter, compared to analysts’ expectations of $4.11 million. During the same period in the prior year, the company posted ($0.27) EPS. As a group, equities analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

About Enovix

(Free Report)

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.

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