Register Financial Advisors LLC Increases Position in Enovix Co. (NASDAQ:ENVX)

Register Financial Advisors LLC boosted its holdings in Enovix Co. (NASDAQ:ENVX) by 40.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,900 shares of the company’s stock after purchasing an additional 18,400 shares during the quarter. Register Financial Advisors LLC’s holdings in Enovix were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENVX. Charles Schwab Investment Management Inc. grew its holdings in shares of Enovix by 16.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,034,802 shares of the company’s stock valued at $12,987,000 after buying an additional 146,028 shares during the last quarter. UBS Group AG grew its holdings in shares of Enovix by 8.3% during the third quarter. UBS Group AG now owns 445,313 shares of the company’s stock valued at $5,589,000 after buying an additional 34,177 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Enovix by 14.2% during the third quarter. Deutsche Bank AG now owns 72,657 shares of the company’s stock valued at $912,000 after buying an additional 9,015 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Enovix by 3.0% during the third quarter. Rhumbline Advisers now owns 191,347 shares of the company’s stock valued at $2,401,000 after buying an additional 5,617 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Enovix by 15.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 12,100 shares of the company’s stock valued at $152,000 after buying an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Insider Transactions at Enovix

In other news, COO Ajay Marathe sold 4,954 shares of the stock in a transaction on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total value of $36,213.74. Following the completion of the sale, the chief operating officer now directly owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Gregory Reichow sold 7,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total transaction of $91,050.00. Following the completion of the transaction, the director now directly owns 8,129 shares of the company’s stock, valued at $98,686.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of the transaction, the chief operating officer now directly owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The disclosure for this sale can be found here. Corporate insiders own 17.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ENVX has been the topic of a number of recent analyst reports. Craig Hallum cut their price target on shares of Enovix from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of Enovix in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. B. Riley upgraded shares of Enovix to a “strong-buy” rating in a research report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.33.

Enovix Stock Performance

ENVX traded down $0.23 during trading on Friday, hitting $15.46. The company’s stock had a trading volume of 8,474,643 shares, compared to its average volume of 5,336,279. The company has a quick ratio of 4.77, a current ratio of 4.89 and a debt-to-equity ratio of 0.72. Enovix Co. has a one year low of $5.70 and a one year high of $23.90. The firm has a market cap of $2.63 billion, a PE ratio of -11.55 and a beta of 1.95. The business’s 50 day simple moving average is $10.17 and its 200-day simple moving average is $10.12.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.05). Enovix had a negative return on equity of 85.47% and a negative net margin of 1,448.90%. The business had revenue of $5.27 million during the quarter, compared to the consensus estimate of $4.16 million. As a group, sell-side analysts predict that Enovix Co. will post -1.15 EPS for the current fiscal year.

Enovix 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.