Refined Wealth Management Has $6.18 Million Position in Enovix Co. (NASDAQ:ENVX)

Refined Wealth Management increased its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 568,606 shares of the company’s stock after purchasing an additional 35,652 shares during the period. Enovix accounts for 4.7% of Refined Wealth Management’s holdings, making the stock its 9th biggest holding. Refined Wealth Management owned about 0.32% of Enovix worth $6,181,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ENVX. Prospera Private Wealth LLC purchased a new position in shares of Enovix in the 3rd quarter valued at $27,000. Fifth Third Bancorp grew its stake in Enovix by 66.7% in the fourth 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 during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Enovix in the second quarter worth about $39,000. Voisard Asset Management Group Inc. lifted its position 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 valued at $65,000 after buying an additional 2,000 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Enovix by 318.5% in the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock valued at $77,000 after buying an additional 6,294 shares in the last quarter. Institutional investors own 50.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ENVX. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Enovix in a report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their target price on Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Two 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.50.

Insider Buying and Selling

In related 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 sale, the director now directly owns 99,497 shares of the company’s stock, valued at $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.70% of the stock is currently owned by corporate insiders.

Enovix Stock Up 1.7 %

Shares of ENVX stock opened at $12.32 on Monday. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The firm has a market capitalization of $2.19 billion, a PE ratio of -7.65 and a beta of 1.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The stock’s 50-day simple moving average is $10.30 and its 200-day simple moving average is $10.77.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results 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 net margin of 1,180.21% and a negative return on equity of 102.19%. The company had revenue of $4.30 million for the quarter, compared to the consensus estimate of $4.11 million. During the same quarter in the prior year, the company earned ($0.27) EPS. Equities analysts expect that Enovix Co. will post -1.17 earnings per share for the current 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.