Enovix Co. (NASDAQ:ENVX) Stake Raised by Deuterium Capital Management LLC

Deuterium Capital Management LLC lifted its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 167,526 shares of the company’s stock after purchasing an additional 14,151 shares during the quarter. Enovix comprises approximately 4.9% of Deuterium Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Deuterium Capital Management LLC’s holdings in Enovix were worth $1,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Enovix by 5.4% in the third quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock valued at $33,477,000 after buying an additional 182,757 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Enovix by 9.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,348,340 shares of the company’s stock valued at $14,656,000 after acquiring an additional 119,288 shares during the period. Stifel Financial Corp lifted its holdings in shares of Enovix by 6.2% in the 3rd quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock worth $8,875,000 after acquiring an additional 55,094 shares during the last quarter. Old West Investment Management LLC boosted its position in shares of Enovix by 12.3% during the 3rd quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock worth $8,759,000 after purchasing an additional 102,452 shares during the period. Finally, Fred Alger Management LLC increased its holdings in Enovix by 2,468.6% in the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock valued at $5,498,000 after purchasing an additional 565,698 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on ENVX shares. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Enovix in a research note on Thursday, February 20th. Craig Hallum cut their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.30.

Insider Activity

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,045,301 shares of the company’s stock, valued at approximately $19,123,564.35. This represents a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 15.70% of the company’s stock.

Enovix Trading Up 3.8 %

ENVX opened at $8.47 on Wednesday. The business has a fifty day moving average price of $11.15 and a 200 day moving average price of $10.22. 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 Co. has a 12 month low of $5.70 and a 12 month high of $18.68. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -5.84 and a beta of 1.87.

Enovix (NASDAQ:ENVX) last released its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The firm had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Sell-side analysts expect that Enovix Co. will post -1.01 earnings per share for the current fiscal year.

About Enovix

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.