Clarity Capital Partners LLC Sells 123,962 Shares of Enovix Co. (NASDAQ:ENVX)

Clarity Capital Partners LLC lessened its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 90.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,377 shares of the company’s stock after selling 123,962 shares during the quarter. Clarity Capital Partners LLC’s holdings in Enovix were worth $145,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cetera Investment Advisers grew its position in Enovix by 81.5% during the second quarter. Cetera Investment Advisers now owns 89,228 shares of the company’s stock worth $1,379,000 after buying an additional 40,055 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Enovix by 427.2% in the third quarter. SG Americas Securities LLC now owns 46,989 shares of the company’s stock worth $439,000 after purchasing an additional 38,076 shares during the period. Magnus Financial Group LLC raised its stake in Enovix by 39.2% in the third quarter. Magnus Financial Group LLC now owns 15,655 shares of the company’s stock valued at $146,000 after purchasing an additional 4,405 shares in the last quarter. One Wealth Advisors LLC bought a new stake in Enovix during the third quarter worth about $700,000. Finally, Good Life Advisors LLC grew its stake in Enovix by 10.9% during the third quarter. Good Life Advisors LLC now owns 46,213 shares of the company’s stock worth $432,000 after buying an additional 4,524 shares in the last quarter. 50.92% of the stock is owned by institutional investors.

Enovix Trading Up 3.1 %

NASDAQ ENVX opened at $10.90 on Thursday. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The business’s fifty day moving average is $10.89 and its 200 day moving average is $10.37. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -6.77 and a beta of 1.87.

Insider Activity

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $968,105.81. This represents a 42.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 15.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ENVX shares. JPMorgan Chase & Co. dropped their target price on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Janney Montgomery Scott downgraded Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Thursday, October 31st. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 price target 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.50.

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.