Concurrent Investment Advisors LLC Acquires 28,023 Shares of Enovix Co. (NASDAQ:ENVX)

Concurrent Investment Advisors LLC boosted its holdings in Enovix Co. (NASDAQ:ENVX) by 79.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,481 shares of the company’s stock after buying an additional 28,023 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Enovix were worth $690,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in shares of Enovix in the 3rd quarter worth approximately $27,000. Fifth Third Bancorp lifted its position in shares of Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after purchasing an additional 1,000 shares during the period. R Squared Ltd acquired a new position in shares of Enovix in the 4th quarter worth approximately $64,000. Voisard Asset Management Group Inc. lifted its position 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 worth $65,000 after purchasing an additional 2,000 shares during the period. Finally, Quest Partners LLC lifted its position in shares of Enovix by 318.5% in the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock worth $77,000 after purchasing an additional 6,294 shares during the period. Institutional investors own 50.92% of the company’s stock.

Insider Buying and Selling at Enovix

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction 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 sale, the director now owns 99,497 shares in the company, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.70% of the stock is currently owned by company insiders.

Enovix Stock Performance

Shares of ENVX stock opened at $10.72 on Monday. The firm has a market capitalization of $1.91 billion, a PE ratio of -7.39 and a beta of 1.87. The firm has a fifty day simple moving average of $11.15 and a two-hundred day simple moving average of $10.29. 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 announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. The business had revenue of $9.72 million during 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%. Analysts forecast that Enovix Co. will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ENVX shares. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research report on Thursday. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Thursday, October 31st. Craig Hallum dropped 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. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. 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 company. According to data from MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and a consensus target price 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.