Lpwm LLC Buys Shares of 50,495 Enovix Co. (NASDAQ:ENVX)

Lpwm LLC purchased a new position in shares of Enovix Co. (NASDAQ:ENVX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,495 shares of the company’s stock, valued at approximately $549,000.

Other hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in shares of Enovix during the third quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Enovix during the second quarter worth $39,000. Voisard Asset Management Group Inc. lifted its holdings in shares of Enovix by 40.0% during the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock worth $65,000 after purchasing an additional 2,000 shares during the period. Quest Partners LLC raised its stake in Enovix by 318.5% during the third quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock worth $77,000 after buying an additional 6,294 shares during the last quarter. Finally, Secure Asset Management LLC bought a new position in Enovix during the third quarter worth $97,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total transaction of $729,750.00. Following the transaction, the director now directly owns 99,497 shares in the company, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ENVX shares. JPMorgan Chase & Co. lowered their target price on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Benchmark reissued a “buy” rating and set a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Finally, Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Enovix Trading Down 4.0 %

NASDAQ:ENVX opened at $10.56 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The firm has a 50-day moving average of $9.95 and a 200-day moving average of $11.02. The company has a market cap of $1.88 billion, a PE ratio of -6.56 and a beta of 1.86. Enovix Co. has a one year low of $5.70 and a one year high of $18.68.

Enovix (NASDAQ:ENVX) last posted its earnings results on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.03. The company had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same period in the previous year, the firm posted ($0.27) earnings per share. As a group, equities research analysts expect that Enovix Co. will post -1.17 EPS for the current fiscal year.

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.