Clarity Capital Partners LLC Purchases 6,578 Shares of Enovix Co. (NASDAQ:ENVX)

Clarity Capital Partners LLC grew its position in Enovix Co. (NASDAQ:ENVXFree Report) by 5.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 137,818 shares of the company’s stock after buying an additional 6,578 shares during the period. Clarity Capital Partners LLC owned 0.08% of Enovix worth $1,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Enovix by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 12,928,993 shares of the company’s stock worth $161,871,000 after purchasing an additional 513,508 shares during the period. Electron Capital Partners LLC raised its stake in shares of Enovix by 20.0% during the fourth quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company’s stock worth $40,556,000 after buying an additional 540,399 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Enovix by 2,228.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock valued at $11,518,000 after buying an additional 1,376,253 shares during the period. Masters Capital Management LLC boosted its stake in Enovix by 18.2% in the fourth quarter. Masters Capital Management LLC now owns 1,300,000 shares of the company’s stock valued at $16,276,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Enovix by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,089,959 shares of the company’s stock worth $13,646,000 after acquiring an additional 55,157 shares during the period. Institutional investors own 50.92% of the company’s stock.

Insider Buying and Selling at Enovix

In other news, COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of the sale, the chief operating officer now owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction that occurred on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total value of $36,213.74. Following the completion of the sale, the chief operating officer now directly owns 978,913 shares in the company, valued at $7,155,854.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gregory Reichow sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.14, for a total value of $91,050.00. Following the sale, the director now directly owns 8,129 shares in the company, valued at approximately $98,686.06. The disclosure for this sale can be found here. Insiders own 17.30% of the company’s stock.

Enovix Stock Up 1.6 %

Shares of NASDAQ:ENVX traded up $0.28 during midday trading on Wednesday, reaching $17.50. 6,023,393 shares of the company were exchanged, compared to its average volume of 5,369,335. The firm has a market cap of $2.98 billion, a PE ratio of -13.06 and a beta of 2.04. The company has a quick ratio of 4.77, a current ratio of 4.89 and a debt-to-equity ratio of 0.72. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $23.90. The stock has a fifty day simple moving average of $11.90 and a two-hundred day simple moving average of $10.25.

Enovix (NASDAQ:ENVXGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). Enovix had a negative return on equity of 85.47% and a negative net margin of 1,448.90%. The firm had revenue of $5.27 million for the quarter, compared to the consensus estimate of $4.16 million. As a group, sell-side analysts forecast that Enovix Co. will post -1.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ENVX. Craig Hallum dropped their price objective on Enovix from $20.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. William Blair reissued an “outperform” rating on shares of Enovix in a research note on Thursday, May 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $17.00 target price on shares of Enovix in a research note on Thursday, June 27th. JPMorgan Chase & Co. reduced their price target on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Enovix presently has an average rating of “Buy” and an average price target of $18.33.

View Our Latest Analysis on ENVX

About Enovix

(Free Report)

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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Institutional Ownership by Quarter for Enovix (NASDAQ:ENVX)

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