12,768 Shares in Enovix Co. (NASDAQ:ENVX) Purchased by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC bought a new position in shares of Enovix Co. (NASDAQ:ENVX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,768 shares of the company’s stock, valued at approximately $139,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in Enovix during the second quarter worth about $39,000. Prospera Private Wealth LLC purchased a new position in Enovix during the third quarter worth about $27,000. Voisard Asset Management Group Inc. grew its position in Enovix by 40.0% during the third 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 in the last quarter. Quest Partners LLC grew its position in Enovix by 318.5% during the third quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock worth $77,000 after buying an additional 6,294 shares in the last quarter. Finally, Delta Investment Management LLC purchased a new position in Enovix during the second quarter worth about $155,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ENVX. JPMorgan Chase & Co. cut 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. Janney Montgomery Scott cut Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a report on Wednesday, October 30th. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Enovix in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Enovix Trading Up 7.0 %

NASDAQ ENVX opened at $11.47 on Wednesday. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. 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 50-day moving average of $10.11 and a 200-day moving average of $10.87.

Enovix (NASDAQ:ENVX) last released its 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 during the quarter, compared to analyst estimates 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) EPS. Research analysts expect that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Enovix

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 owns 99,497 shares of the company’s stock, valued at $968,105.81. This represents a 42.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.70% of the stock is currently owned by corporate insiders.

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.