Sonora Investment Management Group LLC Has $3 Million Holdings in Enovix Co. (NASDAQ:ENVX)

Sonora Investment Management Group LLC boosted its stake in Enovix Co. (NASDAQ:ENVX) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 275,901 shares of the company’s stock after purchasing an additional 25,271 shares during the quarter. Sonora Investment Management Group LLC owned about 0.16% of Enovix worth $2,999,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Enovix during the 4th quarter worth approximately $64,000. Refined Wealth Management grew its holdings in shares of Enovix by 6.7% during the 4th quarter. Refined Wealth Management now owns 568,606 shares of the company’s stock valued at $6,181,000 after purchasing an additional 35,652 shares during the last quarter. KBC Group NV boosted its position in Enovix by 85.0% in the fourth quarter. KBC Group NV now owns 9,139 shares of the company’s stock valued at $99,000 after buying an additional 4,200 shares in the last quarter. Register Financial Advisors LLC lifted its stake in shares of Enovix by 172.8% in the 4th quarter. Register Financial Advisors LLC now owns 174,850 shares of the company’s stock valued at $1,901,000 after acquiring an additional 110,750 shares during the last quarter. Finally, Flagship Private Wealth LLC acquired a new position in Enovix in the 4th quarter worth about $145,000. Institutional investors own 50.92% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the company’s stock in a transaction that occurred on 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 represents a 42.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.70% of the company’s stock.

Enovix Stock Up 4.0 %

NASDAQ:ENVX opened at $12.38 on Friday. The company’s 50-day moving average is $10.53 and its two-hundred day moving average is $10.69. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings results 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 business had revenue of $4.30 million during the quarter, compared to analysts’ expectations of $4.11 million. During the same period last year, the business earned ($0.27) earnings per share. As a group, equities analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

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.