Gilder Gagnon Howe & Co. LLC Has $5.65 Million Holdings in Enovix Co. (NASDAQ:ENVX)

Gilder Gagnon Howe & Co. LLC trimmed its stake in Enovix Co. (NASDAQ:ENVX) by 8.9% during the fourth quarter, Holdings Channel reports. The fund owned 519,871 shares of the company’s stock after selling 50,989 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Enovix were worth $5,651,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Enovix by 376.9% during the 3rd quarter. Barclays PLC now owns 252,012 shares of the company’s stock valued at $2,353,000 after purchasing an additional 199,166 shares during the period. Virtu Financial LLC acquired a new stake in shares of Enovix in the third quarter worth $205,000. Franklin Resources Inc. increased its position in Enovix by 81.4% during the third quarter. Franklin Resources Inc. now owns 79,559 shares of the company’s stock worth $743,000 after acquiring an additional 35,711 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Enovix during the 3rd quarter valued at $117,000. Finally, Lpwm LLC bought a new stake in Enovix in the 4th quarter valued at $549,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Stock Performance

Shares of NASDAQ:ENVX opened at $6.84 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The business’s fifty day moving average price is $7.64 and its two-hundred day moving average price is $9.52. Enovix Co. has a fifty-two week low of $5.27 and a fifty-two week high of $18.68. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -4.72 and a beta of 1.98.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. As a group, analysts predict that Enovix Co. will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ENVX. JPMorgan Chase & Co. dropped their price objective on shares of Enovix from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday. Benchmark reduced their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of Enovix in a report on Thursday, February 20th. Finally, Craig Hallum cut their target price on Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Two research 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 MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and an average target price of $18.80.

Insider Transactions at Enovix

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,045,301 shares in the company, valued at $19,123,564.35. This represents a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.70% of the company’s stock.

Enovix Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.