B. Riley Wealth Advisors Inc. Purchases Shares of 11,525 Enovix Co. (NASDAQ:ENVX)

B. Riley Wealth Advisors Inc. acquired a new position in shares of Enovix Co. (NASDAQ:ENVX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 11,525 shares of the company’s stock, valued at approximately $117,000.

Other hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in Enovix in the third quarter worth $27,000. Blue Trust Inc. boosted its position 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 purchasing an additional 957 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Enovix in the 2nd quarter valued at about $39,000. Voisard Asset Management Group Inc. increased its position in Enovix by 40.0% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock valued at $65,000 after buying an additional 2,000 shares in the last quarter. Finally, Quest Partners LLC raised 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 period. Institutional investors own 50.92% of the company’s stock.

Insider Activity at Enovix

In related news, insider Arthi Chakravarthy sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was 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 in the company, valued at approximately $4,462,965. This represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.70% of the stock is owned by company insiders.

Enovix Price Performance

Enovix stock opened at $9.73 on Monday. The stock has a market cap of $1.73 billion, a P/E ratio of -6.04 and a beta of 1.94. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average price is $9.68 and its two-hundred day moving average price is $11.19. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.03. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. The business had revenue of $4.30 million for the quarter, compared to analysts’ expectations of $4.11 million. During the same quarter in the previous year, the firm earned ($0.27) earnings per share. On average, equities analysts predict that Enovix Co. will post -1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ENVX shares. Oppenheimer reissued an “outperform” rating and issued a $36.00 price objective on shares of Enovix in a research note on Monday, August 26th. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Enovix in a report 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 Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.