S&CO Inc. Acquires 13,000 Shares of Enovix Corporation $ENVX

S&CO Inc. grew its holdings in Enovix Corporation (NASDAQ:ENVX) by 59.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 35,000 shares of the company’s stock after buying an additional 13,000 shares during the quarter. S&CO Inc.’s holdings in Enovix were worth $361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC bought a new position in shares of Enovix in the second quarter worth about $13,206,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Enovix in the second quarter valued at approximately $3,612,000. CenterBook Partners LP raised its position in Enovix by 71.0% in the 1st quarter. CenterBook Partners LP now owns 1,736,570 shares of the company’s stock worth $12,746,000 after purchasing an additional 721,309 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in Enovix by 1.8% during the 1st quarter. Driehaus Capital Management LLC now owns 2,323,612 shares of the company’s stock worth $17,055,000 after buying an additional 41,559 shares in the last quarter. Finally, L & S Advisors Inc lifted its holdings in Enovix by 50.6% during the 1st quarter. L & S Advisors Inc now owns 191,975 shares of the company’s stock worth $1,409,000 after buying an additional 64,471 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Performance

Shares of ENVX stock opened at $9.56 on Monday. The stock has a market cap of $2.06 billion, a PE ratio of -11.80 and a beta of 2.09. The stock has a 50-day moving average of $10.80 and a 200-day moving average of $10.25. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.72 and a quick ratio of 9.47. Enovix Corporation has a one year low of $5.27 and a one year high of $16.49.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Tuesday, September 9th. The company reported ($0.13) earnings per share (EPS) for the quarter. Enovix had a negative net margin of 525.93% and a negative return on equity of 61.78%. The firm had revenue of $7.47 million for the quarter. As a group, sell-side analysts expect that Enovix Corporation will post -1.01 earnings per share for the current year.

Analysts Set New Price Targets

ENVX has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovix in a research note on Friday, October 31st. Cantor Fitzgerald dropped their price objective on Enovix from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. restated a “neutral” rating and set a $12.00 target price (up from $9.00) on shares of Enovix in a research report on Thursday, July 24th. Wall Street Zen cut shares of Enovix from a “hold” rating to a “sell” rating in a research report on Saturday, September 6th. Finally, Oppenheimer set a $24.00 price objective on shares of Enovix in a report on Thursday. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.89.

Insider Activity

In other news, COO Ajay Marathe sold 120,000 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $12.01, for a total value of $1,441,200.00. Following the completion of the transaction, the chief operating officer owned 1,027,259 shares of the company’s stock, valued at $12,337,380.59. The trade was a 10.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.10% of the stock is owned by company insiders.

Enovix Company 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.