Key Points
- CAO Kristina Truong sold 2,296 shares on Jan. 1 at an average price of $7.31 for $16,783.76, leaving her with 196,748 shares (a 1.15% drop in her ownership).
- Enovix is currently unprofitable (last quarter EPS -$0.13, a reported negative net margin of 525.93%) with a market cap of about $1.88 billion; analysts have a consensus "Hold" rating and a $17.50 average price target.
- Several institutions have recently built or increased positions (including Kingstone Capital Partners Texas LLC and Y Intercept Hong Kong), and institutional investors now own roughly 50.92% of the company.
Enovix Corporation (NASDAQ:ENVX - Get Free Report) CAO Kristina Truong sold 2,296 shares of the firm's stock in a transaction dated Thursday, January 1st. The stock was sold at an average price of $7.31, for a total transaction of $16,783.76. Following the transaction, the chief accounting officer directly owned 196,748 shares in the company, valued at approximately $1,438,227.88. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Enovix Stock Performance
NASDAQ ENVX opened at $8.73 on Tuesday. The firm has a 50-day moving average price of $8.58 and a two-hundred day moving average price of $10.36. Enovix Corporation has a 12-month low of $5.27 and a 12-month high of $16.49. The company has a market capitalization of $1.88 billion, a P/E ratio of -10.78 and a beta of 2.13. The company has a quick ratio of 9.47, a current ratio of 9.72 and a debt-to-equity ratio of 1.74.
Enovix (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The company reported ($0.13) earnings per share for the quarter. The business had revenue of $7.47 million during the quarter. Enovix had a negative net margin of 525.93% and a negative return on equity of 61.78%. Analysts anticipate that Enovix Corporation will post -1.01 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of ENVX. Kingstone Capital Partners Texas LLC bought a new stake in shares of Enovix in the second quarter worth $13,206,000. Y Intercept Hong Kong Ltd acquired a new position in Enovix during the 2nd quarter worth about $3,612,000. Bayforest Capital Ltd bought a new stake in shares of Enovix in the 1st quarter valued at about $385,000. Perennial Investment Advisors LLC increased its stake in shares of Enovix by 50.2% in the second quarter. Perennial Investment Advisors LLC now owns 366,100 shares of the company's stock valued at $3,785,000 after buying an additional 122,278 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Enovix during the second quarter worth about $1,107,000. Institutional investors and hedge funds own 50.92% of the company's stock.
Analyst Ratings Changes
ENVX has been the topic of a number of recent analyst reports. Oppenheimer set a $24.00 price target on Enovix in a research report on Thursday, November 6th. Canaccord Genuity Group reduced their price objective on shares of Enovix from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, November 6th. JPMorgan Chase & Co. decreased their target price on shares of Enovix from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Wednesday, November 12th. Northland Securities set a $16.00 price target on shares of Enovix in a report on Monday, November 17th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Enovix in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $17.50.
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Enovix Company Profile
(
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Enovix Corporation (NASDAQ: ENVX) develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.
Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.
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