Haven Private LLC Takes $454,000 Position in Enovix Co. (NASDAQ:ENVX)

Haven Private LLC purchased a new position in shares of Enovix Co. (NASDAQ:ENVX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 41,748 shares of the company’s stock, valued at approximately $454,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in shares of Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after purchasing an additional 1,000 shares during the period. Hodges Capital Management Inc. increased its stake in Enovix by 1.8% during the 4th quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company’s stock worth $625,000 after buying an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in Enovix by 6.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company’s stock worth $228,000 after buying an additional 1,214 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Enovix by 6.8% during the fourth quarter. Victory Capital Management Inc. now owns 19,695 shares of the company’s stock worth $214,000 after buying an additional 1,257 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Enovix by 6.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock worth $202,000 after acquiring an additional 1,367 shares in the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 15.70% of the company’s stock.

Analyst Upgrades and Downgrades

ENVX has been the topic of several research reports. Craig Hallum cut their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Thursday, February 20th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Enovix Trading Down 3.9 %

Enovix stock opened at $8.28 on Friday. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -5.71 and a beta of 1.93. The firm has a 50-day moving average price of $11.06 and a two-hundred day moving average price of $10.19.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Sell-side analysts expect that Enovix Co. will post -1.01 earnings per share for the current 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.