Enovix Co. (NASDAQ:ENVX) Shares Sold by LVW Advisors LLC

LVW Advisors LLC lessened its stake in Enovix Co. (NASDAQ:ENVX) by 14.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,322 shares of the company’s stock after selling 4,978 shares during the quarter. LVW Advisors LLC’s holdings in Enovix were worth $330,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Enovix in the 2nd quarter valued at $39,000. Prospera Private Wealth LLC acquired a new position in Enovix in the third quarter valued at approximately $27,000. Voisard Asset Management Group Inc. lifted its position in shares of Enovix by 40.0% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock worth $65,000 after buying an additional 2,000 shares during the last quarter. Quest Partners LLC grew its position 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 during the last quarter. Finally, Delta Investment Management LLC acquired a new position in Enovix in the second quarter valued at $155,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Stock Performance

Shares of ENVX opened at $10.72 on Tuesday. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68. The business’s fifty day moving average price is $10.06 and its 200 day moving average price is $10.91. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The stock has a market capitalization of $1.91 billion, a PE ratio of -6.66 and a beta of 1.86.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. The company had revenue of $4.30 million for the quarter, compared to analysts’ expectations of $4.11 million. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. During the same quarter in the previous year, the company posted ($0.27) earnings per share. Equities research analysts forecast that Enovix Co. will post -1.17 EPS for the current year.

Insider Transactions at Enovix

In related news, Director Betsy S. Atkins sold 75,000 shares of the company’s 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 owns 99,497 shares in the company, valued at approximately $968,105.81. This represents a 42.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.70% of the company’s stock.

Analysts Set New Price Targets

ENVX has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Janney Montgomery Scott lowered Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Thursday, October 31st. Finally, Benchmark restated a “buy” rating and set a $25.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Two equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

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.