Fox Run Management L.L.C. Sells 14,553 Shares of Enovix Co. (NASDAQ:ENVX)

Fox Run Management L.L.C. trimmed its position in Enovix Co. (NASDAQ:ENVX) by 46.6% during the fourth quarter, Holdings Channel reports. The firm owned 16,690 shares of the company’s stock after selling 14,553 shares during the quarter. Fox Run Management L.L.C.’s holdings in Enovix were worth $181,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new stake in Enovix in the fourth quarter valued at approximately $343,000. Sei Investments Co. bought a new stake in Enovix in the 4th quarter valued at $154,000. Lee Danner & Bass Inc. acquired a new stake in Enovix during the 4th quarter valued at $65,000. Xponance Inc. increased its holdings in shares of Enovix by 17.3% in the fourth quarter. Xponance Inc. now owns 11,810 shares of the company’s stock valued at $128,000 after purchasing an additional 1,738 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Enovix by 74.2% in the fourth quarter. Intech Investment Management LLC now owns 73,439 shares of the company’s stock valued at $798,000 after purchasing an additional 31,286 shares during the period. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Down 6.6 %

Shares of ENVX opened at $7.48 on Friday. 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 12 month low of $5.70 and a 12 month high of $18.68. The firm’s 50 day moving average is $9.92 and its 200-day moving average is $10.03. The stock has a market capitalization of $1.43 billion, a PE ratio of -5.16 and a beta of 1.93.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. Equities research analysts forecast that Enovix Co. will post -1.01 EPS for the current year.

Insider Buying and Selling

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,045,301 shares in the company, valued at $19,123,564.35. The trade was a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.70% of the stock is owned by company insiders.

Analyst Ratings Changes

ENVX has been the subject of several research analyst reports. Craig Hallum reduced their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Enovix presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.