Rothschild Investment LLC Acquires 14,075 Shares of Enovix Co. (NASDAQ:ENVX)

Rothschild Investment LLC grew its stake in shares of Enovix Co. (NASDAQ:ENVX) by 28.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,675 shares of the company’s stock after buying an additional 14,075 shares during the period. Rothschild Investment LLC’s holdings in Enovix were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ENVX. Fred Alger Management LLC increased its holdings in Enovix by 2,468.6% in the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock valued at $5,498,000 after acquiring an additional 565,698 shares during the last quarter. Sora Investors LLC increased its holdings in shares of Enovix by 75.0% in the third quarter. Sora Investors LLC now owns 525,000 shares of the company’s stock worth $4,904,000 after purchasing an additional 225,000 shares during the last quarter. Barclays PLC lifted its position in shares of Enovix by 376.9% in the third quarter. Barclays PLC now owns 252,012 shares of the company’s stock worth $2,353,000 after buying an additional 199,166 shares in the last quarter. Geode Capital Management LLC boosted its stake in Enovix by 5.4% during the third quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock valued at $33,477,000 after buying an additional 182,757 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Enovix during the 4th quarter valued at approximately $1,380,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Analysts Set New Price Targets

ENVX has been the topic of several recent research reports. Craig Hallum decreased their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Thursday, October 31st. Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a report on Thursday, February 20th. Two 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Enovix Price Performance

ENVX stock opened at $9.82 on Tuesday. The stock has a market cap of $1.75 billion, a PE ratio of -6.77 and a beta of 1.87. Enovix Co. has a 12 month low of $5.70 and a 12 month high of $18.68. The company has a 50-day moving average price of $11.17 and a 200 day moving average price of $10.28. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

Enovix (NASDAQ:ENVX) last announced its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The business had revenue of $9.72 million during the quarter, compared to analyst estimates of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. Equities research analysts anticipate that Enovix Co. will post -1.01 earnings per share for the current year.

Insider Activity at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now directly owns 99,497 shares in the company, valued at approximately $968,105.81. This represents a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.70% of the stock is owned by company insiders.

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.