Enovix Co. (NASDAQ:ENVX – Get Free Report)’s stock price fell 4.6% on Thursday . The stock traded as low as $10.95 and last traded at $10.91. 497,018 shares traded hands during trading, a decline of 94% from the average session volume of 7,831,504 shares. The stock had previously closed at $11.44.
Analyst Ratings Changes
Several research firms have recently issued reports on ENVX. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Benchmark reiterated 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 research report on Tuesday, October 22nd. Finally, Janney Montgomery Scott lowered Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Enovix has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.
Check Out Our Latest Report on Enovix
Enovix Trading Down 2.2 %
Enovix (NASDAQ:ENVX – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.03. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. The company had revenue of $4.30 million during the quarter, compared to analyst estimates of $4.11 million. During the same quarter last year, the firm posted ($0.27) EPS. On average, equities research analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the sale, the director now directly owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. This represents a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.70% of the stock is owned by insiders.
Institutional Trading of Enovix
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp grew its position in shares of Enovix by 66.7% during the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after purchasing an additional 1,000 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in Enovix by 6.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company’s stock worth $228,000 after acquiring an additional 1,214 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Enovix by 6.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock worth $202,000 after acquiring an additional 1,367 shares during the last quarter. Clear Creek Financial Management LLC boosted its position in shares of Enovix by 3.0% during the 3rd quarter. Clear Creek Financial Management LLC now owns 48,200 shares of the company’s stock valued at $450,000 after acquiring an additional 1,400 shares during the last quarter. Finally, LJI Wealth Management LLC grew its holdings in shares of Enovix by 2.1% during the third quarter. LJI Wealth Management LLC now owns 73,900 shares of the company’s stock worth $690,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 50.92% of the company’s stock.
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.
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