Intellectus Partners LLC Raises Position in Enovix Co. (NASDAQ:ENVX)

Intellectus Partners LLC lifted its stake in shares of Enovix Co. (NASDAQ:ENVX) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,450 shares of the company’s stock after purchasing an additional 8,250 shares during the period. Intellectus Partners LLC’s holdings in Enovix were worth $603,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ENVX. Prospera Private Wealth LLC purchased a new position in Enovix in the 3rd quarter valued at approximately $27,000. Fifth Third Bancorp grew its stake in Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after buying an additional 1,000 shares in the last quarter. R Squared Ltd purchased a new position in Enovix in the 4th quarter valued at approximately $64,000. Quest Partners LLC grew its stake in Enovix by 318.5% in the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock valued at $77,000 after buying an additional 6,294 shares in the last quarter. Finally, SRS Capital Advisors Inc. purchased a new position in Enovix in the 4th quarter valued at approximately $87,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Insider Transactions at Enovix

In other news, CEO Rajendra K. Talluri sold 300,000 shares of Enovix stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,045,301 shares of the company’s stock, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 15.70% of the stock is currently owned by insiders.

Enovix Stock Up 4.0 %

Shares of NASDAQ:ENVX opened at $8.61 on Friday. Enovix Co. has a one year low of $5.70 and a one 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 company has a market cap of $1.65 billion, a price-to-earnings ratio of -5.94 and a beta of 1.93. The firm has a fifty day moving average price of $11.01 and a two-hundred day moving average price of $10.18.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping 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. Analysts anticipate that Enovix Co. will post -1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENVX has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. Craig Hallum reduced their price objective on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. 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 stock. Based on data from MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and an average 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.