Enovix Co. (NASDAQ:ENVX) Shares Sold by Diametric Capital LP

Diametric Capital LP trimmed its position in Enovix Co. (NASDAQ:ENVX) by 54.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,284 shares of the company’s stock after selling 13,562 shares during the period. Diametric Capital LP’s holdings in Enovix were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of Enovix by 66.7% in the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after purchasing an additional 1,000 shares during the period. Sava Infond d.o.o. acquired a new position in Enovix in the 4th quarter worth approximately $43,000. Hollencrest Capital Management raised its position in Enovix by 61.4% during the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock worth $57,000 after buying an additional 2,000 shares during the last quarter. R Squared Ltd purchased a new position in Enovix during the 4th quarter worth approximately $64,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Enovix during the 4th quarter valued at approximately $65,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Insider Activity

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

Enovix Trading Up 2.6 %

ENVX stock opened at $7.63 on Thursday. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68. The company’s 50-day simple moving average is $9.69 and its 200-day simple moving average is $10.01. The firm has a market cap of $1.46 billion, a P/E ratio of -5.26 and a beta of 1.93.

Enovix (NASDAQ:ENVX) last announced 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. The business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. As a group, equities analysts forecast that Enovix Co. will post -1.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Craig Hallum reduced their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Enovix currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

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.