Sentry Investment Management LLC Sells 1,803 Shares of Enovix Co. (NASDAQ:ENVX)

Sentry Investment Management LLC trimmed its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 14.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,079 shares of the company’s stock after selling 1,803 shares during the period. Sentry Investment Management LLC’s holdings in Enovix were worth $120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in Enovix during the 3rd quarter worth about $27,000. Fifth Third Bancorp boosted its holdings in shares of Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after buying an additional 1,000 shares in the last quarter. R Squared Ltd bought a new stake in shares of Enovix in the 4th quarter valued at about $64,000. Voisard Asset Management Group Inc. boosted its holdings in shares of Enovix by 40.0% in the 3rd 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 in 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. 50.92% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the firm’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 transaction of $729,750.00. Following the completion of the transaction, the director now directly owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 15.70% of the stock is currently owned by insiders.

Enovix Stock Performance

Shares of Enovix stock opened at $9.63 on Thursday. The firm has a market capitalization of $1.71 billion, a P/E ratio of -6.64 and a beta of 1.87. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average price of $11.22 and a 200 day moving average price of $10.26. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on ENVX shares. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Thursday, February 20th. Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a report on Thursday, October 31st. Finally, Craig Hallum lowered their price target on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Enovix presently has an average rating of “Moderate Buy” and a consensus 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.