Handelsbanken Fonder AB Has $14.26 Million Position in Enovix Co. (NASDAQ:ENVX)

Handelsbanken Fonder AB reduced its position in shares of Enovix Co. (NASDAQ:ENVX) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,311,520 shares of the company’s stock after selling 231,619 shares during the period. Handelsbanken Fonder AB owned about 0.74% of Enovix worth $14,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Fifth Third Bancorp boosted its position in shares of Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after buying an additional 1,000 shares during the period. Hodges Capital Management Inc. boosted its position in shares of Enovix by 1.8% during the fourth quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company’s stock worth $625,000 after buying an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC boosted its position in Enovix by 6.2% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company’s stock valued at $228,000 after purchasing an additional 1,214 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Enovix by 6.7% during the third quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock valued at $202,000 after purchasing an additional 1,367 shares during the last quarter. Finally, Clear Creek Financial Management LLC boosted its position in Enovix by 3.0% during the third quarter. Clear Creek Financial Management LLC now owns 48,200 shares of the company’s stock valued at $450,000 after purchasing an additional 1,400 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on ENVX shares. Janney Montgomery Scott cut Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Thursday. Craig Hallum reduced their price target on Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Benchmark reissued a “buy” rating and set a $25.00 price target 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.30.

Enovix Stock Performance

ENVX opened at $10.72 on Friday. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -7.39 and a beta of 1.87. The business has a 50 day moving average of $11.15 and a 200-day moving average of $10.30. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99.

Enovix (NASDAQ:ENVX) last announced its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company 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%. On average, equities research analysts expect that Enovix Co. will post -1.01 earnings per share for the current year.

Insider Transactions at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the transaction, the director now owns 99,497 shares in the company, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 15.70% of the stock is owned by corporate insiders.

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.