Rockefeller Capital Management L.P. Increases Stake in Enovix Corporation $ENVX

Rockefeller Capital Management L.P. boosted its stake in Enovix Corporation (NASDAQ:ENVX) by 27.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 63,097 shares of the company’s stock after buying an additional 13,550 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Enovix were worth $652,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in shares of Enovix by 54.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 178,578 shares of the company’s stock valued at $1,311,000 after purchasing an additional 62,734 shares during the period. Avantax Advisory Services Inc. grew its stake in Enovix by 13.5% in the first quarter. Avantax Advisory Services Inc. now owns 68,284 shares of the company’s stock worth $501,000 after purchasing an additional 8,122 shares during the period. HB Wealth Management LLC raised its holdings in Enovix by 64.3% in the first quarter. HB Wealth Management LLC now owns 27,314 shares of the company’s stock worth $200,000 after purchasing an additional 10,686 shares in the last quarter. LPL Financial LLC lifted its position in Enovix by 7.8% during the first quarter. LPL Financial LLC now owns 333,427 shares of the company’s stock valued at $2,447,000 after buying an additional 24,068 shares during the period. Finally, Bayforest Capital Ltd bought a new stake in shares of Enovix during the 1st quarter valued at $385,000. 50.92% of the stock is owned by institutional investors.

Enovix Price Performance

Shares of NASDAQ ENVX opened at $7.53 on Thursday. The firm has a market cap of $1.63 billion, a P/E ratio of -9.30 and a beta of 2.09. Enovix Corporation has a twelve month low of $5.27 and a twelve month high of $16.49. The company has a quick ratio of 9.47, a current ratio of 9.72 and a debt-to-equity ratio of 1.74. The company has a 50 day moving average of $10.50 and a 200 day moving average of $10.35.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on ENVX shares. Wall Street Zen downgraded shares of Enovix from a “hold” rating to a “sell” rating in a research report on Saturday, September 6th. Northland Securities set a $16.00 price objective on shares of Enovix in a report on Monday, November 17th. JPMorgan Chase & Co. lowered their target price on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovix in a research report on Friday, October 31st. Finally, Cantor Fitzgerald cut their price target on Enovix from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.50.

Insider Activity at Enovix

In related news, COO Ajay Marathe sold 18,614 shares of Enovix stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $13.00, for a total value of $241,982.00. Following the completion of the sale, the chief operating officer directly owned 1,002,684 shares in the company, valued at approximately $13,034,892. This trade represents a 1.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.10% of the stock is owned by company insiders.

About Enovix

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.