S&CO Inc. Grows Stake in Enovix Co. (NASDAQ:ENVX)

S&CO Inc. increased its stake in Enovix Co. (NASDAQ:ENVX) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,000 shares of the company’s stock after acquiring an additional 2,000 shares during the period. S&CO Inc.’s holdings in Enovix were worth $239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lpwm LLC purchased a new position in Enovix in the fourth quarter worth about $549,000. Oppenheimer & Co. Inc. boosted its position in shares of Enovix by 52.2% during the third 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 during the period. Stifel Financial Corp boosted its position in shares of Enovix by 6.2% during the third 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 during the period. Register Financial Advisors LLC boosted its position in shares of Enovix by 172.8% during the fourth quarter. Register Financial Advisors LLC now owns 174,850 shares of the company’s stock valued at $1,901,000 after buying an additional 110,750 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Enovix during the fourth quarter valued at approximately $1,380,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Stock Down 8.8 %

Shares of NASDAQ ENVX opened at $7.85 on Tuesday. 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 firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -5.41 and a beta of 1.93. The stock has a 50 day moving average price of $10.95 and a 200 day moving average price of $10.17. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68.

Enovix (NASDAQ:ENVX) last posted 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 return on equity of 96.99% and a negative net margin of 963.17%. The company had revenue of $9.72 million during 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 year.

Insider Buying and Selling

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.