Stifel Financial Corp Increases Stock Position in Enovix Co. (NASDAQ:ENVX)

Stifel Financial Corp boosted its holdings in Enovix Co. (NASDAQ:ENVX) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 950,202 shares of the company’s stock after buying an additional 55,094 shares during the period. Stifel Financial Corp’s holdings in Enovix were worth $8,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Driehaus Capital Management LLC grew its position in shares of Enovix by 63.7% in the second quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock valued at $60,085,000 after purchasing an additional 1,512,424 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Enovix by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the company’s stock valued at $11,479,000 after buying an additional 73,320 shares in the last quarter. Old West Investment Management LLC lifted its holdings in shares of Enovix by 12.3% in the third quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock worth $8,759,000 after buying an additional 102,452 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of Enovix by 2,468.6% in the third quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock valued at $5,498,000 after acquiring an additional 565,698 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Enovix by 13.7% during the second quarter. Bank of New York Mellon Corp now owns 573,026 shares of the company’s stock valued at $8,859,000 after acquiring an additional 69,098 shares in the last quarter. Institutional investors own 50.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ENVX. Benchmark reissued a “buy” rating and issued a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Janney Montgomery Scott cut Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a report on Thursday, October 31st. Oppenheimer reissued an “outperform” rating and set a $36.00 price objective on shares of Enovix in a report on Monday, August 26th. JPMorgan Chase & Co. dropped their target price on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, 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. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.50.

Insider Buying and Selling at Enovix

In other news, insider Arthi Chakravarthy sold 35,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $13.00, for a total transaction of $455,000.00. Following the completion of the transaction, the insider now directly owns 343,305 shares of the company’s stock, valued at approximately $4,462,965. This represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Betsy S. Atkins sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the sale, the director now directly owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.70% of the company’s stock.

Enovix Price Performance

Shares of NASDAQ:ENVX opened at $9.10 on Friday. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The stock has a market cap of $1.62 billion, a PE ratio of -5.65 and a beta of 1.94. The company’s fifty day moving average is $10.10 and its 200 day moving average is $11.27. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.03. The firm had revenue of $4.30 million for the quarter, compared to the consensus estimate of $4.11 million. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. During the same quarter in the previous year, the business earned ($0.27) earnings per share. Research analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current year.

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.