Enovix Co. (NASDAQ:ENVX) CEO Rajendra K. Talluri Sells 300,000 Shares of Stock

Enovix Co. (NASDAQ:ENVX) CEO Rajendra K. Talluri sold 300,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the transaction, the chief executive officer now owns 2,045,301 shares of the company’s stock, valued at $19,123,564.35. This represents a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Enovix Price Performance

Shares of NASDAQ ENVX opened at $8.92 on Friday. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -6.15 and a beta of 1.87. The firm has a 50-day moving average of $11.22 and a two-hundred day moving average of $10.25.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, beating 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 the consensus estimate of $8.77 million. As a group, analysts expect that Enovix Co. will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Enovix

A number of hedge funds have recently bought and sold shares of ENVX. Private Advisor Group LLC lifted its stake in Enovix by 23.6% during the third quarter. Private Advisor Group LLC now owns 99,900 shares of the company’s stock valued at $933,000 after buying an additional 19,056 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Enovix by 34.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,077 shares of the company’s stock valued at $188,000 after buying an additional 5,162 shares in the last quarter. Voisard Asset Management Group Inc. lifted its stake in Enovix by 40.0% during the third 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. Gladstone Institutional Advisory LLC lifted its stake in Enovix by 1.9% during the third quarter. Gladstone Institutional Advisory LLC now owns 189,115 shares of the company’s stock valued at $1,766,000 after buying an additional 3,525 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its stake in Enovix by 3.0% during the third quarter. Clear Creek Financial Management LLC now owns 48,200 shares of the company’s stock valued at $450,000 after buying an additional 1,400 shares in the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.