Enovix Co. (NASDAQ:ENVX) Shares Acquired by Sora Investors LLC

Sora Investors LLC grew its stake in shares of Enovix Co. (NASDAQ:ENVX) by 75.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 525,000 shares of the company’s stock after buying an additional 225,000 shares during the quarter. Sora Investors LLC owned about 0.29% of Enovix worth $4,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in shares of Enovix by 6.2% during the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after purchasing an additional 55,094 shares during the last quarter. Reynders McVeigh Capital Management LLC increased its holdings in shares of Enovix by 32.4% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 195,362 shares of the company’s stock valued at $1,825,000 after purchasing an additional 47,835 shares during the period. Maven Securities LTD acquired a new stake in shares of Enovix during the third quarter worth approximately $280,000. Janus Henderson Group PLC lifted its stake in shares of Enovix by 22.7% in the 3rd quarter. Janus Henderson Group PLC now owns 69,647 shares of the company’s stock valued at $650,000 after purchasing an additional 12,882 shares during the last quarter. Finally, Firsthand Capital Management Inc. boosted its holdings in Enovix by 500.0% in the third quarter. Firsthand Capital Management Inc. now owns 30,000 shares of the company’s stock worth $280,000 after purchasing an additional 25,000 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Arthi Chakravarthy sold 35,000 shares of the 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 sale, the insider now directly owns 343,305 shares of the company’s stock, valued at approximately $4,462,965. This represents a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the transaction, the director now directly owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.70% of the company’s stock.

Enovix Stock Down 7.6 %

Shares of ENVX stock opened at $9.30 on Friday. The firm has a market capitalization of $1.66 billion, a P/E ratio of -5.78 and a beta of 1.94. The firm’s fifty day moving average price is $10.12 and its two-hundred day moving average price is $11.32. 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 1 year low of $5.70 and a 1 year high of $18.68.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. The company 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 quarter in the prior year, the business posted ($0.27) EPS. On average, equities analysts predict that Enovix Co. will post -1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ENVX. Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and issued a $36.00 target price on shares of Enovix in a research note on Monday, August 26th. JPMorgan Chase & Co. cut their price target on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

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.