21,981 Shares in Enovix Co. (NASDAQ:ENVX) Acquired by Virtu Financial LLC

Virtu Financial LLC bought a new stake in shares of Enovix Co. (NASDAQ:ENVX) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 21,981 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds also recently modified their holdings of ENVX. Driehaus Capital Management LLC grew its holdings in shares of Enovix by 63.7% during the second quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock valued at $60,085,000 after buying an additional 1,512,424 shares in the last quarter. Geode Capital Management LLC boosted its position in Enovix by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock worth $33,477,000 after acquiring an additional 182,757 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Enovix by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the company’s stock valued at $11,479,000 after acquiring an additional 73,320 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Enovix by 6.2% in the 3rd quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after purchasing an additional 55,094 shares during the period. Finally, Old West Investment Management LLC lifted its position in shares of Enovix by 12.3% in the third quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock worth $8,759,000 after purchasing an additional 102,452 shares in the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Stock Performance

ENVX opened at $8.12 on Thursday. 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 company has a market cap of $1.45 billion, a PE ratio of -5.04 and a beta of 1.94. The stock has a 50-day moving average of $9.82 and a 200-day moving average of $11.21. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68.

Enovix (NASDAQ:ENVX) last announced its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. The firm had revenue of $4.30 million during the quarter, compared to analysts’ expectations of $4.11 million. During the same quarter in the prior year, the business earned ($0.27) earnings per share. As a group, equities research analysts forecast that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

Insider Activity at Enovix

In other Enovix news, insider Arthi Chakravarthy sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the sale, the insider now owns 343,305 shares of the company’s stock, valued at $4,462,965. This trade represents a 9.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Betsy S. Atkins sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ENVX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Janney Montgomery Scott cut Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Thursday, October 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enovix in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. reduced their price target on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.50.

About Enovix

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.