S&CO Inc. Buys 6,000 Shares of Enovix Co. (NASDAQ:ENVX)

S&CO Inc. boosted its stake in Enovix Co. (NASDAQ:ENVX) by 42.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the company’s stock after acquiring an additional 6,000 shares during the quarter. S&CO Inc.’s holdings in Enovix were worth $186,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. One Wealth Advisors LLC bought a new stake in Enovix in the 3rd quarter valued at $700,000. Vanguard Group Inc. increased its stake in Enovix by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock valued at $104,881,000 after buying an additional 164,717 shares during the last quarter. Driehaus Capital Management LLC increased its stake in Enovix by 63.7% in the 2nd 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 during the last quarter. Scientech Research LLC acquired a new stake in Enovix in the 2nd quarter valued at $834,000. Finally, Wealth Effects LLC increased its stake in Enovix by 55.6% in the 2nd quarter. Wealth Effects LLC now owns 229,001 shares of the company’s stock valued at $3,540,000 after buying an additional 81,801 shares during the last quarter. 50.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on ENVX shares. Benchmark reiterated a “buy” rating and issued a $25.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Craig Hallum lifted their price target on shares of Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (down from $23.00) on shares of Enovix in a research note on Monday, August 5th. Finally, Canaccord Genuity Group boosted their price objective on shares of Enovix from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Insider Buying and Selling

In other Enovix news, insider Arthi Chakravarthy sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the sale, the insider now owns 343,305 shares of the company’s stock, valued at $4,462,965. The trade was a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.70% of the stock is currently owned by insiders.

Enovix Stock Performance

Shares of ENVX stock opened at $8.48 on Friday. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The company has a 50-day simple moving average of $9.98 and a 200 day simple moving average of $11.29. 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) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.03. The business had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same quarter in the previous year, the firm posted ($0.27) EPS. As a group, equities analysts forecast that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

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.