Calamos Wealth Management LLC Lowers Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Calamos Wealth Management LLC lowered its stake in shares of Enovix Co. (NASDAQ:ENVX) by 26.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,300 shares of the company’s stock after selling 69,800 shares during the quarter. Calamos Wealth Management LLC owned about 0.11% of Enovix worth $3,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its holdings in shares of Enovix by 68.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 150,620 shares of the company’s stock worth $1,886,000 after buying an additional 61,327 shares during the last quarter. Victory Capital Management Inc. lifted its position in Enovix by 29.3% in the fourth quarter. Victory Capital Management Inc. now owns 18,423 shares of the company’s stock valued at $231,000 after purchasing an additional 4,170 shares during the period. Vanguard Group Inc. lifted its position in Enovix by 1.3% in the first quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock valued at $104,881,000 after purchasing an additional 164,717 shares during the period. Electron Capital Partners LLC lifted its position in Enovix by 20.0% in the fourth quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company’s stock valued at $40,556,000 after purchasing an additional 540,399 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Enovix by 19.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,034,055 shares of the company’s stock valued at $12,946,000 after purchasing an additional 171,635 shares during the period. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Wall Street Analysts Forecast Growth

ENVX has been the subject of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of Enovix in a research report on Thursday, May 2nd. Piper Sandler restated an “overweight” rating and issued a $19.00 price objective (down previously from $23.00) on shares of Enovix in a research report on Monday, August 5th. Craig Hallum raised their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Thursday, August 1st. Finally, TD Cowen lifted their price target on shares of Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Enovix presently has an average rating of “Buy” and an average price target of $19.50.

Enovix Price Performance

ENVX stock traded up $0.34 on Friday, reaching $10.57. The company had a trading volume of 3,697,036 shares, compared to its average volume of 5,470,267. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.84 and a current ratio of 3.98. The company’s fifty day moving average is $13.69 and its 200 day moving average is $10.75. The company has a market cap of $1.80 billion, a P/E ratio of -7.89 and a beta of 2.04.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. The company had revenue of $3.77 million during the quarter, compared to the consensus estimate of $3.85 million. Enovix had a negative return on equity of 91.21% and a negative net margin of 1,434.34%. On average, research analysts forecast that Enovix Co. will post -1.21 earnings per share for the current year.

Insider Buying and Selling at Enovix

In other Enovix news, Director Gregory Reichow sold 7,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $12.14, for a total value of $91,050.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.30% of the stock is currently owned by insiders.

About Enovix

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.