Enovix Co. (NASDAQ:ENVX) Shares Purchased by Deuterium Capital Management LLC

Deuterium Capital Management LLC raised its holdings in Enovix Co. (NASDAQ:ENVX) by 15.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,375 shares of the company’s stock after acquiring an additional 25,000 shares during the quarter. Enovix comprises approximately 4.8% of Deuterium Capital Management LLC’s holdings, making the stock its 5th largest position. Deuterium Capital Management LLC owned about 0.11% of Enovix worth $2,835,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ENVX. Blue Trust Inc. increased its position in Enovix by 102.1% during the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock worth $29,000 after acquiring an additional 957 shares during the period. Able Wealth Management LLC bought a new position in Enovix during the fourth quarter worth $34,000. Beacon Capital Management LLC increased its position in Enovix by 71.9% during the first quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock worth $34,000 after acquiring an additional 1,798 shares during the period. GAMMA Investing LLC increased its position in Enovix by 11,176.2% during the second quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock worth $37,000 after acquiring an additional 2,347 shares during the period. Finally, Quest Partners LLC bought a new position in Enovix during the fourth quarter worth $49,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ENVX has been the topic of several analyst reports. William Blair reissued an “outperform” rating on shares of Enovix in a report on Thursday, May 2nd. B. Riley raised shares of Enovix to a “strong-buy” rating in a report on Tuesday, June 25th. TD Cowen boosted their price target on shares of Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Benchmark initiated coverage on shares of Enovix in a report on Monday, July 22nd. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Craig Hallum boosted their price target on shares of Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enovix currently has a consensus rating of “Buy” and a consensus price target of $21.33.

Enovix Price Performance

Shares of NASDAQ:ENVX traded down $0.15 on Friday, hitting $9.52. The stock had a trading volume of 3,402,112 shares, compared to its average volume of 5,402,084. Enovix Co. has a twelve month low of $5.70 and a twelve month 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 firm’s 50 day moving average price is $13.46 and its 200-day moving average price is $10.71. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -7.10 and a beta of 2.04.

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

Insider Activity

In related news, Director Gregory Reichow sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $12.14, for a total transaction of $91,050.00. Following the transaction, the director now owns 8,129 shares in the company, valued at approximately $98,686.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 17.30% of the stock is owned by corporate insiders.

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.