Lpwm LLC Acquires New Shares in Enovix Co. (NASDAQ:ENVX)

Lpwm LLC acquired a new stake in Enovix Co. (NASDAQ:ENVX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 50,495 shares of the company’s stock, valued at approximately $549,000.

A number of other large investors have also made changes to their positions in the company. 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 buying an additional 1,512,424 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Enovix by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock valued at $33,477,000 after buying an additional 182,757 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Enovix by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the company’s stock worth $11,479,000 after purchasing an additional 73,320 shares during the period. Stifel Financial Corp boosted its stake in Enovix by 6.2% in the 3rd quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock worth $8,875,000 after purchasing an additional 55,094 shares during the period. Finally, Old West Investment Management LLC boosted its stake in Enovix by 12.3% in the 3rd quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock worth $8,759,000 after purchasing an additional 102,452 shares during the period. Institutional investors own 50.92% of the company’s stock.

Insider Activity at Enovix

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the 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 transaction, the director now directly owns 99,497 shares of the company’s stock, valued at $968,105.81. This represents a 42.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Enovix Trading Down 4.0 %

Shares of NASDAQ:ENVX opened at $10.56 on Wednesday. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68. The company has a market capitalization of $1.88 billion, a P/E ratio of -6.56 and a beta of 1.86. The company has a 50-day simple moving average of $9.95 and a 200 day simple moving average of $11.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77.

Enovix (NASDAQ:ENVX) last issued its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The business had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. During the same period last year, the business posted ($0.27) EPS. Sell-side analysts forecast that Enovix Co. will post -1.17 earnings per share for the current year.

About Enovix

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.