Perfromance Wealth Partners LLC Invests $139,000 in Enovix Co. (NASDAQ:ENVX)

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

Several other institutional investors have also recently made changes to their positions in ENVX. Driehaus Capital Management LLC raised its position in shares of Enovix by 63.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock worth $60,085,000 after acquiring an additional 1,512,424 shares in the last quarter. Fred Alger Management LLC raised its position in shares of Enovix by 2,468.6% in the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock worth $5,498,000 after acquiring an additional 565,698 shares in the last quarter. Sora Investors LLC grew its stake in shares of Enovix by 75.0% in the 3rd quarter. Sora Investors LLC now owns 525,000 shares of the company’s stock worth $4,904,000 after buying an additional 225,000 shares during the last quarter. Barclays PLC grew its stake in shares of Enovix by 376.9% in the 3rd quarter. Barclays PLC now owns 252,012 shares of the company’s stock worth $2,353,000 after buying an additional 199,166 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Enovix by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock worth $33,477,000 after buying an additional 182,757 shares during the last quarter. Institutional investors own 50.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Janney Montgomery Scott downgraded Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Two investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Enovix Price Performance

Shares of ENVX opened at $11.47 on Wednesday. The business’s fifty day simple moving average is $10.11 and its two-hundred day simple moving average is $10.87. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. Enovix Co. has a 12 month low of $5.70 and a 12 month high of $18.68.

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 the consensus estimate of ($0.20) by $0.03. The firm 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 period in the prior year, the firm earned ($0.27) EPS. On average, equities analysts expect that Enovix Co. will post -1.17 earnings per share for the current year.

Insider Activity

In other news, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction 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 transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.70% of the company’s stock.

About Enovix

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.