Virtu Financial LLC Makes New Investment in Enovix Co. (NASDAQ:ENVX)

Virtu Financial LLC purchased a new position in shares of Enovix Co. (NASDAQ:ENVX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,981 shares of the company’s stock, valued at approximately $205,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Enovix by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock valued at $33,477,000 after purchasing an additional 182,757 shares in the last quarter. Barclays PLC raised its stake in Enovix by 376.9% during the third quarter. Barclays PLC now owns 252,012 shares of the company’s stock valued at $2,353,000 after buying an additional 199,166 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in shares of Enovix in the 3rd quarter valued at approximately $528,000. Sora Investors LLC raised its position in shares of Enovix by 75.0% during the 3rd quarter. Sora Investors LLC now owns 525,000 shares of the company’s stock valued at $4,904,000 after acquiring an additional 225,000 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Enovix by 6.2% during the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after purchasing an additional 55,094 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Enovix Trading Down 6.1 %

Shares of NASDAQ:ENVX opened at $8.12 on Thursday. Enovix Co. has a twelve month low of $5.70 and a twelve month 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 firm has a market cap of $1.45 billion, a P/E ratio of -5.04 and a beta of 1.94. The company has a 50 day moving average of $9.82 and a 200-day moving average of $11.21.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.11 million. During the same quarter in the previous year, the business earned ($0.27) EPS. As a group, analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Arthi Chakravarthy sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $13.00, for a total transaction of $455,000.00. Following the completion of the sale, the insider now directly owns 343,305 shares of the company’s stock, valued at $4,462,965. This trade represents a 9.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the transaction, the director now owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ENVX shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Benchmark reissued a “buy” rating and issued a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $36.00 price objective on shares of Enovix in a research note on Monday, August 26th. Finally, Janney Montgomery Scott cut Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

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.