Beacon Capital Management LLC Has $34,000 Holdings in Enovix Co. (NASDAQ:ENVX)

Beacon Capital Management LLC increased its stake in Enovix Co. (NASDAQ:ENVX) by 71.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,298 shares of the company’s stock after purchasing an additional 1,798 shares during the period. Beacon Capital Management LLC’s holdings in Enovix were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ENVX. Vanguard Group Inc. lifted its position in Enovix by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock worth $104,881,000 after buying an additional 164,717 shares in the last quarter. Electron Capital Partners LLC raised its holdings in Enovix by 20.0% in the 4th quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company’s stock valued at $40,556,000 after acquiring an additional 540,399 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Enovix by 2,228.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock valued at $11,518,000 after acquiring an additional 1,376,253 shares during the period. Masters Capital Management LLC raised its holdings in Enovix by 3.8% in the 1st quarter. Masters Capital Management LLC now owns 1,350,000 shares of the company’s stock valued at $10,814,000 after acquiring an additional 50,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Enovix by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,089,959 shares of the company’s stock valued at $13,646,000 after acquiring an additional 55,157 shares during the period. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Enovix

In other news, Director Gregory Reichow sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total value of $91,050.00. Following the transaction, the director now directly owns 8,129 shares in the company, valued at approximately $98,686.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ENVX shares. William Blair reiterated an “outperform” rating on shares of Enovix in a research report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Craig Hallum lifted their target price on shares of Enovix from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday. B. Riley upgraded shares of Enovix to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a report on Thursday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enovix presently has a consensus rating of “Buy” and an average price target of $19.57.

Enovix Trading Up 1.5 %

Shares of Enovix stock traded up $0.17 during mid-day trading on Friday, hitting $11.82. The stock had a trading volume of 5,334,488 shares, compared to its average volume of 5,426,744. The firm has a 50-day moving average of $13.88 and a two-hundred day moving average of $10.65. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $19.37. The company has a quick ratio of 4.77, a current ratio of 4.89 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.01 billion, a P/E ratio of -8.37 and a beta of 2.04.

Enovix (NASDAQ:ENVX) last posted 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 net margin of 1,434.34% and a negative return on equity of 84.28%. The firm had revenue of $5.27 million during the quarter, compared to analysts’ expectations of $4.16 million. Sell-side analysts forecast that Enovix Co. will post -1.14 earnings per share for the current 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.