Prospera Private Wealth LLC Takes Position in Enovix Co. (NASDAQ:ENVX)

Prospera Private Wealth LLC bought a new position in Enovix Co. (NASDAQ:ENVX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,894 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in shares of Enovix by 102.1% during the 2nd quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock worth $29,000 after acquiring an additional 957 shares during the period. Beacon Capital Management LLC increased its stake in Enovix by 71.9% in the first quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock valued at $34,000 after acquiring an additional 1,798 shares during the period. GAMMA Investing LLC raised its position in Enovix by 11,176.2% in the second quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock worth $37,000 after purchasing an additional 2,347 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Enovix during the second quarter worth about $39,000. Finally, Voisard Asset Management Group Inc. boosted its holdings in Enovix by 40.0% during the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock valued at $65,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Performance

ENVX stock opened at $9.43 on Friday. The company has a 50 day moving average price of $10.01 and a 200 day moving average price of $11.28. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The stock has a market capitalization of $1.68 billion, a PE ratio of -5.86 and a beta of 1.99.

Enovix (NASDAQ:ENVX) last released its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 102.19% and a negative net margin of 1,180.21%. During the same quarter in the previous year, the company posted ($0.27) earnings per share. Analysts forecast that Enovix Co. will post -1.17 EPS for the current year.

Insider Buying and Selling at Enovix

In other Enovix news, insider Arthi Chakravarthy sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $13.00, for a total transaction of $455,000.00. Following the completion of the sale, the insider now owns 343,305 shares in the company, valued at approximately $4,462,965. The trade was a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ENVX shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of Enovix in a report on Wednesday, October 30th. TD Cowen lifted their price objective on Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 target price (down previously from $23.00) on shares of Enovix in a report on Monday, August 5th. Craig Hallum boosted their price target on shares of Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Enovix has a consensus rating of “Moderate Buy” and an average 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.