Phillips Investment Management Co. Enovix Co. in the fourth quarter. (NASDAQ:ENVX – Get Rating ) bought a new position, the company said in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,682 shares of the company’s stock, valued at approximately $195,000.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new position in Enovix during the third quarter worth about $26,000. Quantbot Technologies LP acquired a new position in Enovix in the second quarter worth about $26,000. Emerald Advisers LLC acquired a new position in Enovix during the third quarter worth about $62,000. Ensign Peak Advisors Inc purchased a new position in Enovix during the first quarter worth about $67,000. Finally, Bogart Wealth LLC purchased a new position in Enovix during the third quarter valued at about $92,000. Institutional investors and hedge funds own 55.62% of the company’s stock.
Wall Street analysts forecast growth
A number of research firms have weighed in on ENVX. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price objective on shares of Enovix in a research report on Friday, March 10th. JPMorgan Chase & Co. dropped their price objective on shares of Enovix from $28.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, January 26th. Piper Sandler lifted their price objective on shares of Enovix from $22.50 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. Canaccord Genuity Group began coverage on shares of Enovix in a research report on Wednesday, January 11th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, EF Hutton Acquisition Co. I restated a “buy” rating and set a $18.00 price target on shares of Enovix in a research report on Wednesday, March 29th. Twelve research analysts have rated the stock with a buy rating, based on data from Marketbeat, Enovix has a consensus rating of “Buy” and a consensus price target of $27.92.
Enovix stock down 1.8%
ENVX stock opened at $13.68 on Friday. Enovix Co. has a 1 year low of $6.50 and a 1 year high of $26.30. The company has a fifty day simple moving average of $10.69 and a 200 day simple moving average of $11.96.
Enovix (NASDAQ:ENVX – Get Rating ) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.17). The company had revenue of $1.09 million for the quarter, compared to analyst estimates of $0.91 million. As a group, sell-side analysts predict that Enovix Co. will post -1.1 earnings per share for the current fiscal year.
Insider Activity at Enovix
In other Enovix news, Director Thurman J. Rodgers acquired 69,557 shares of Enovix stock in a transaction dated Monday, March 20th. The stock was acquired at an average price of $10.88 per share, with a total value of $756,780.16. Following the purchase, the director now owns 797,401 shares in the company, valued at $8,675,722.88. The transaction was disclosed in a filing with the Securities and Exchange Commission, available through this hyperlink. In other news, CEO Rajendra K. Talluri bought 5,000 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was purchased at an average price of $11.22 per share, with a total value of $56,100.00. Following the transaction, the chief executive officer now directly owns 2,005,000 shares in the company, valued at $22,496,100. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thurman J. Rodgers bought 69,557 shares of the business’s stock in a transaction on Monday, March 20th. The shares were purchased at an average cost of $10.88 per share with a total value of $756,780.16. Following the transaction, the director now owns 797,401 shares in the company, valued at $8,675,722.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 174,590 shares of company stock valued at $1,818,054. 20.60% of company stock is owned by insiders.
Enovix Corporation designs, develops and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.
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