P.A.W. Capital Corp Sells 20,000 Shares of Enovix Co. (NASDAQ:ENVX)

P.A.W. Capital Corp decreased its stake in shares of Enovix Co. (NASDAQ:ENVX) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the company’s stock after selling 20,000 shares during the quarter. Enovix makes up 2.1% of P.A.W. Capital Corp’s portfolio, making the stock its 12th largest position. P.A.W. Capital Corp owned 0.06% of Enovix worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legacy Capital Group California Inc. lifted its holdings in Enovix by 20.8% during the 4th quarter. Legacy Capital Group California Inc. now owns 33,841 shares of the company’s stock valued at $368,000 after buying an additional 5,819 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Enovix by 79.0% during the 4th quarter. Concurrent Investment Advisors LLC now owns 63,481 shares of the company’s stock valued at $690,000 after purchasing an additional 28,023 shares during the period. Private Advisor Group LLC increased its position in Enovix by 17.4% during the 4th quarter. Private Advisor Group LLC now owns 117,251 shares of the company’s stock valued at $1,275,000 after purchasing an additional 17,351 shares during the period. Beirne Wealth Consulting Services LLC increased its position in Enovix by 23.9% during the 4th quarter. Beirne Wealth Consulting Services LLC now owns 57,000 shares of the company’s stock valued at $620,000 after purchasing an additional 11,000 shares during the period. Finally, Atria Wealth Solutions Inc. increased its position in Enovix by 11.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 21,594 shares of the company’s stock valued at $235,000 after purchasing an additional 2,250 shares during the period. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Down 6.6 %

Shares of Enovix stock opened at $10.72 on Friday. The firm’s 50 day moving average price is $11.15 and its 200-day moving average price is $10.30. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68. The company has a market cap of $1.91 billion, a P/E ratio of -7.39 and a beta of 1.87.

Enovix (NASDAQ:ENVX) last released its earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $9.72 million during the quarter, compared to analysts’ expectations of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. On average, sell-side analysts predict that Enovix Co. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ENVX shares. Craig Hallum cut their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of Enovix in a research report on Thursday. Finally, Benchmark reissued a “buy” rating and set a $25.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Two investment 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.30.

Enovix 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.