Enovix Co. (NASDAQ:ENVX) Shares Bought by Udine Wealth Management Inc.

Udine Wealth Management Inc. increased its position in Enovix Co. (NASDAQ:ENVX) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 207,040 shares of the company’s stock after acquiring an additional 3,556 shares during the period. Enovix makes up 1.4% of Udine Wealth Management Inc.’s portfolio, making the stock its 15th biggest position. Udine Wealth Management Inc. owned approximately 0.12% of Enovix worth $2,251,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ENVX. Oppenheimer & Co. Inc. boosted its position in Enovix by 52.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company’s stock worth $2,541,000 after acquiring an additional 93,303 shares during the period. Lpwm LLC bought a new stake in shares of Enovix during the 4th quarter worth about $549,000. Stifel Financial Corp lifted its stake in shares of Enovix by 6.2% in the 3rd quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock worth $8,875,000 after acquiring an additional 55,094 shares during the period. One Wealth Advisors LLC bought a new position in shares of Enovix in the third quarter valued at approximately $700,000. Finally, Driehaus Capital Management LLC increased its stake in shares of Enovix by 63.7% during the second quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock valued at $60,085,000 after acquiring an additional 1,512,424 shares during the period. 50.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ENVX. Janney Montgomery Scott cut 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. Benchmark reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. JPMorgan Chase & Co. dropped their target price on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of Enovix in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Insider Activity

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.70% of the stock is owned by corporate insiders.

Enovix Trading Down 2.1 %

Shares of ENVX stock opened at $10.72 on Friday. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The stock’s fifty day simple moving average is $10.05 and its 200-day simple moving average is $10.97.

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

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.