Enovix Co. (NASDAQ:ENVX) Shares Acquired by Channel Wealth LLC

Channel Wealth LLC boosted its position in Enovix Co. (NASDAQ:ENVX) by 12.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 156,435 shares of the company’s stock after acquiring an additional 17,825 shares during the quarter. Channel Wealth LLC’s holdings in Enovix were worth $1,700,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new stake in Enovix in the second quarter valued at $39,000. Prospera Private Wealth LLC purchased a new position in shares of Enovix in the 3rd quarter valued at about $27,000. Voisard Asset Management Group Inc. lifted its stake in shares of Enovix by 40.0% in the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock valued at $65,000 after purchasing an additional 2,000 shares during the period. Quest Partners LLC boosted its holdings in Enovix by 318.5% during the third quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock worth $77,000 after buying an additional 6,294 shares in the last quarter. Finally, Delta Investment Management LLC acquired a new position in Enovix during the second quarter worth about $155,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Stock Up 1.6 %

Shares of ENVX stock opened at $10.95 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The stock has a market cap of $1.95 billion, a PE ratio of -6.80 and a beta of 1.86. The business’s fifty day moving average is $10.02 and its 200-day moving average is $11.02. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.03. The company had revenue of $4.30 million for the quarter, compared to analysts’ expectations 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 prior year, the company earned ($0.27) earnings per share. Equities analysts expect that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ENVX has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Finally, Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Enovix in a research report on Wednesday, October 30th. Two research 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, the stock has an average rating of “Moderate Buy” and an average target price of $20.50.

Insider Transactions at Enovix

In other news, 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 transaction of $729,750.00. Following the completion of the sale, the director now directly owns 99,497 shares of the company’s stock, valued at $968,105.81. This trade represents a 42.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 15.70% of the stock is owned by insiders.

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.