Alpha DNA Investment Management LLC Acquires Shares of 47,063 Enovix Co. (NASDAQ:ENVX)

Alpha DNA Investment Management LLC bought a new stake in shares of Enovix Co. (NASDAQ:ENVX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 47,063 shares of the company’s stock, valued at approximately $512,000.

A number of other large investors also recently made changes to their positions in the stock. Barclays PLC boosted its holdings in Enovix by 376.9% during 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 during the last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 182,757 shares during the period. Virtu Financial LLC bought a new stake in Enovix in the third quarter valued at approximately $205,000. Sanctuary Advisors LLC raised its holdings in Enovix by 37.2% in the third quarter. Sanctuary Advisors LLC now owns 165,703 shares of the company’s stock worth $1,563,000 after purchasing an additional 44,956 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Enovix by 81.4% during the third quarter. Franklin Resources Inc. now owns 79,559 shares of the company’s stock worth $743,000 after purchasing an additional 35,711 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insider Buying and Selling

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the transaction, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ENVX. Craig Hallum lowered their price objective on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Thursday, February 20th. Finally, Benchmark cut their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday. 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 stock. Based on data from MarketBeat, Enovix currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.30.

Enovix Trading Up 5.7 %

NASDAQ:ENVX opened at $6.16 on Friday. The company has a market cap of $1.18 billion, a P/E ratio of -4.25 and a beta of 1.98. Enovix Co. has a twelve month low of $5.27 and a twelve month high of $18.68. The business has a 50 day moving average price of $8.20 and a two-hundred day moving average price of $9.73. 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 (NASDAQ:ENVX) last released its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. As a group, analysts expect that Enovix Co. will post -1.01 EPS for the current fiscal year.

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.