Sentry Investment Management LLC Purchases Shares of 12,882 Enovix Co. (NASDAQ:ENVX)

Sentry Investment Management LLC acquired a new stake in Enovix Co. (NASDAQ:ENVX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,882 shares of the company’s stock, valued at approximately $120,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. One Wealth Advisors LLC acquired a new position in shares of Enovix during the third quarter worth about $700,000. Vanguard Group Inc. grew its holdings in Enovix by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock worth $104,881,000 after acquiring an additional 164,717 shares in the last quarter. Driehaus Capital Management LLC increased 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 valued at $60,085,000 after purchasing an additional 1,512,424 shares during the last quarter. Scientech Research LLC acquired a new stake in shares of Enovix in the 2nd quarter valued at $834,000. Finally, Wealth Effects LLC lifted its position in shares of Enovix by 55.6% during the 2nd quarter. Wealth Effects LLC now owns 229,001 shares of the company’s stock worth $3,540,000 after purchasing an additional 81,801 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Arthi Chakravarthy sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $13.00, for a total transaction of $455,000.00. Following the transaction, the insider now owns 343,305 shares of the company’s stock, valued at $4,462,965. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.70% of the company’s stock.

Enovix Stock Up 9.6 %

Enovix stock opened at $9.14 on Wednesday. The stock has a 50 day moving average of $9.99 and a two-hundred day moving average of $11.15. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -5.73 and a beta of 1.99. 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 (NASDAQ:ENVX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. The firm had revenue of $4.30 million for the quarter, compared to analyst estimates of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same period last year, the firm posted ($0.27) EPS. As a group, research analysts expect that Enovix Co. will post -1.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

ENVX has been the topic of a number of analyst reports. TD Cowen raised their price target on Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Piper Sandler restated an “overweight” rating and set a $19.00 price objective (down previously from $23.00) on shares of Enovix in a research report on Monday, August 5th. Finally, Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Enovix in a research report on Wednesday, October 30th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

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.