Lee Danner & Bass Inc. Takes $65,000 Position in Enovix Co. (NASDAQ:ENVX)

Lee Danner & Bass Inc. purchased a new stake in Enovix Co. (NASDAQ:ENVX) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 6,000 shares of the company’s stock, valued at approximately $65,000.

Other institutional investors have also made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of Enovix in the 3rd quarter valued at approximately $27,000. Fifth Third Bancorp grew its stake in Enovix by 66.7% during the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after buying an additional 1,000 shares during the last quarter. Hollencrest Capital Management grew its stake 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 bought a new position in Enovix during the 4th quarter worth $64,000. Finally, Quest Partners LLC grew its stake in Enovix by 318.5% during the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock worth $77,000 after buying an additional 6,294 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors.

Enovix Trading Up 6.2 %

NASDAQ:ENVX opened at $8.45 on Friday. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -5.83 and a beta of 1.93. The business has a fifty day moving average of $10.17 and a 200-day moving average of $10.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share 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 analysts predict that Enovix Co. will post -1.01 earnings per share for the current year.

Analyst Ratings Changes

ENVX has been the subject of a number of recent research reports. Craig Hallum lowered their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Enovix currently has an average rating of “Moderate Buy” and an average price target of $20.30.

Insider Activity

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,045,301 shares in the company, valued at $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 15.70% of the company’s stock.

Enovix Profile

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.