SlateStone Wealth LLC Buys Shares of 10,283 Enovix Co. (NASDAQ:ENVX)

SlateStone Wealth LLC bought a new stake in Enovix Co. (NASDAQ:ENVX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,283 shares of the company’s stock, valued at approximately $112,000.

Other large investors also recently bought and sold shares of the company. Lpwm LLC acquired a new position in Enovix in the fourth quarter valued at about $549,000. Stifel Financial Corp lifted its position in Enovix by 6.2% in the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after buying an additional 55,094 shares during the last quarter. Haven Private LLC acquired a new position in Enovix in the fourth quarter valued at about $454,000. Register Financial Advisors LLC lifted its position in shares of Enovix by 172.8% during the fourth quarter. Register Financial Advisors LLC now owns 174,850 shares of the company’s stock worth $1,901,000 after purchasing an additional 110,750 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Enovix during the fourth quarter worth about $1,380,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ENVX. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum reduced their price target on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Insider Buying and Selling at Enovix

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value of $2,805,000.00. Following the transaction, the chief executive officer now directly owns 2,045,301 shares in the company, valued at $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.70% of the stock is currently owned by insiders.

Enovix Stock Up 6.8 %

ENVX stock opened at $8.17 on Tuesday. The company’s 50 day moving average price is $10.53 and its 200 day moving average price is $10.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -5.63 and a beta of 1.93.

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

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.