Enovix Co. (NASDAQ:ENVX) Holdings Boosted by Doheny Asset Management CA

Doheny Asset Management CA increased its stake in shares of Enovix Co. (NASDAQ:ENVX) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 262,065 shares of the company’s stock after acquiring an additional 5,575 shares during the quarter. Enovix makes up about 3.2% of Doheny Asset Management CA’s investment portfolio, making the stock its 7th largest position. Doheny Asset Management CA’s holdings in Enovix were worth $3,281,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its position in Enovix by 29.3% during the fourth quarter. Victory Capital Management Inc. now owns 18,423 shares of the company’s stock worth $231,000 after buying an additional 4,170 shares in the last quarter. Choreo LLC raised its position in Enovix by 17.4% in the fourth quarter. Choreo LLC now owns 13,470 shares of the company’s stock valued at $169,000 after purchasing an additional 2,000 shares during the period. White Pine Capital LLC raised its position in Enovix by 31.2% in the fourth quarter. White Pine Capital LLC now owns 85,761 shares of the company’s stock valued at $1,074,000 after purchasing an additional 20,415 shares during the period. Cutter & CO Brokerage Inc. raised its position in Enovix by 35.4% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 24,688 shares of the company’s stock valued at $309,000 after purchasing an additional 6,450 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Enovix by 17.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,805 shares of the company’s stock valued at $348,000 after purchasing an additional 4,137 shares during the period. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Insider Buying and Selling

In related news, COO Ajay Marathe sold 4,954 shares of the business’s stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of the transaction, the chief operating officer now directly owns 978,913 shares of the company’s stock, valued at approximately $7,155,854.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on ENVX. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research report on Thursday, April 25th. Craig Hallum reduced their target price on Enovix from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. B. Riley reduced their target price on Enovix from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, William Blair reiterated an “outperform” rating on shares of Enovix in a report on Thursday. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.29.

Enovix Trading Up 43.5 %

Shares of ENVX stock traded up $2.83 on Thursday, hitting $9.34. The stock had a trading volume of 18,536,302 shares, compared to its average volume of 4,606,595. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15. The firm has a market capitalization of $1.59 billion, a P/E ratio of -5.90 and a beta of 1.70. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $23.90. The company’s 50 day moving average price is $7.87 and its 200-day moving average price is $10.01.

Enovix (NASDAQ:ENVX) last released its earnings results on Tuesday, February 20th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. The company had revenue of $7.38 million for the quarter, compared to analyst estimates of $3.37 million. Analysts anticipate that Enovix Co. will post -1.13 earnings per share for the current year.

Enovix Company 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.