Enovix Co. (NASDAQ:ENVX - Get Free Report) COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction dated Sunday, April 14th. The stock was sold at an average price of $7.31, for a total value of $36,213.74. Following the transaction, the chief operating officer now directly owns 978,913 shares in the company, valued at $7,155,854.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Enovix Stock Performance
ENVX stock opened at $6.89 on Wednesday. The company has a quick ratio of 5.15, a current ratio of 5.30 and a debt-to-equity ratio of 0.65. Enovix Co. has a 1 year low of $6.64 and a 1 year high of $23.90. The company has a fifty day simple moving average of $9.02 and a 200 day simple moving average of $10.35.
Enovix (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $7.38 million for the quarter, compared to the consensus estimate of $3.37 million. Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. As a group, research analysts expect that Enovix Co. will post -1.13 EPS for the current fiscal year.
Institutional Trading of Enovix
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Enovix by 5.2% during the first quarter. JPMorgan Chase & Co. now owns 106,242 shares of the company's stock worth $1,516,000 after purchasing an additional 5,258 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Enovix by 61.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,800 shares of the company's stock valued at $340,000 after buying an additional 9,100 shares in the last quarter. HighTower Advisors LLC grew its position in Enovix by 18.8% in the first quarter. HighTower Advisors LLC now owns 33,723 shares of the company's stock valued at $483,000 after acquiring an additional 5,335 shares during the period. Citigroup Inc. raised its stake in Enovix by 129.2% during the first quarter. Citigroup Inc. now owns 20,144 shares of the company's stock worth $287,000 after acquiring an additional 11,355 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Enovix by 1.2% during the first quarter. BlackRock Inc. now owns 1,498,054 shares of the company's stock valued at $21,376,000 after acquiring an additional 18,009 shares during the period. Institutional investors own 50.92% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on ENVX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of Enovix in a research note on Wednesday, February 21st. Canaccord Genuity Group restated a "buy" rating and set a $17.00 target price on shares of Enovix in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.29.
View Our Latest Report on ENVX
About Enovix
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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.
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