Enovix Co. (NASDAQ:ENVX) Shares Purchased by LJI Wealth Management LLC

LJI Wealth Management LLC raised its holdings in Enovix Co. (NASDAQ:ENVX) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,900 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. LJI Wealth Management LLC’s holdings in Enovix were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ENVX. Vanguard Group Inc. lifted its stake in Enovix by 1.3% during the first quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock valued at $104,881,000 after purchasing an additional 164,717 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Enovix by 63.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock worth $60,085,000 after acquiring an additional 1,512,424 shares in the last quarter. Masters Capital Management LLC grew its holdings in shares of Enovix by 3.8% in the 1st quarter. Masters Capital Management LLC now owns 1,350,000 shares of the company’s stock worth $10,814,000 after acquiring an additional 50,000 shares during the last quarter. Old West Investment Management LLC raised its position in shares of Enovix by 12.3% during 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 during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Enovix by 13.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 573,026 shares of the company’s stock valued at $8,859,000 after purchasing an additional 69,098 shares during the period. Institutional investors own 50.92% of the company’s stock.

Insider Buying and Selling at Enovix

In other news, insider Arthi Chakravarthy sold 35,000 shares of Enovix stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $13.00, for a total value of $455,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.70% of the company’s stock.

Enovix Stock Down 4.2 %

Shares of NASDAQ ENVX traded down $0.37 during trading hours on Friday, hitting $8.48. The stock had a trading volume of 4,403,857 shares, compared to its average volume of 5,650,824. The firm’s 50-day moving average price is $9.98 and its two-hundred day moving average price is $11.26. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68. The company has a market capitalization of $1.51 billion, a P/E ratio of -5.27 and a beta of 1.99. 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 posted 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 company 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 period in the previous year, the firm posted ($0.27) earnings per share. Analysts anticipate that Enovix Co. will post -1.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENVX has been the topic of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a report on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $36.00 target price on shares of Enovix in a research note on Monday, August 26th. Craig Hallum increased their target price on Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Janney Montgomery Scott lowered Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Enovix Company Profile

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.