Coppell Advisory Solutions LLC Makes New $27,000 Investment in Enovix Co. (NASDAQ:ENVX)

Coppell Advisory Solutions LLC acquired a new stake in Enovix Co. (NASDAQ:ENVX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,416 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ENVX. Barclays PLC boosted its position in Enovix by 376.9% during the third quarter. Barclays PLC now owns 252,012 shares of the company’s stock valued at $2,353,000 after buying an additional 199,166 shares during the period. Virtu Financial LLC purchased a new stake in Enovix during the 3rd quarter valued at about $205,000. Franklin Resources Inc. grew its position in Enovix by 81.4% during the 3rd quarter. Franklin Resources Inc. now owns 79,559 shares of the company’s stock worth $743,000 after acquiring an additional 35,711 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Enovix in the 3rd quarter worth approximately $117,000. Finally, Lpwm LLC bought a new stake in Enovix in the fourth quarter valued at approximately $549,000. Institutional investors own 50.92% of the company’s stock.

Insider Buying and Selling at Enovix

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

Wall Street Analysts Forecast Growth

ENVX has been the topic of several recent analyst reports. Craig Hallum cut their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. JPMorgan Chase & Co. cut their price target on shares of Enovix from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday. Benchmark lowered their price objective on shares of Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Two research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Enovix Trading Up 0.7 %

ENVX opened at $6.84 on Friday. The stock has a market cap of $1.31 billion, a PE ratio of -4.72 and a beta of 1.98. The business has a 50 day moving average of $7.64 and a 200-day moving average of $9.52. Enovix Co. has a 52 week low of $5.27 and a 52 week high of $18.68. 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, topping 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 firm had revenue of $9.72 million for the quarter, compared to the consensus estimate of $8.77 million. Equities research analysts predict that Enovix Co. will post -1.01 earnings per share for the current fiscal year.

About Enovix

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.