Enovix Co. (NASDAQ:ENVX) CTO Ashok Lahiri Sells 3,000 Shares

Enovix Co. (NASDAQ:ENVXGet Rating) CTO Ashok Lahiri sold 3,000 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $14.00, for a total transaction of $42,000.00. Following the sale, the chief technology officer now directly owns 1,404,993 shares of the company’s stock, valued at $19,669,902. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ashok Lahiri also recently made the following trade(s):

  • On Monday, August 1st, Ashok Lahiri sold 2,000 shares of Enovix stock. The stock was sold at an average price of $13.30, for a total transaction of $26,600.00.
  • On Wednesday, July 20th, Ashok Lahiri sold 2,000 shares of Enovix stock. The stock was sold at an average price of $11.19, for a total transaction of $22,380.00.

Enovix Stock Up 3.8 %

ENVX opened at $14.41 on Friday. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -13.72 and a beta of 2.73. Enovix Co. has a twelve month low of $7.26 and a twelve month high of $39.48. The company’s 50-day moving average price is $11.09 and its two-hundred day moving average price is $12.34.

Enovix (NASDAQ:ENVXGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). As a group, sell-side analysts anticipate that Enovix Co. will post -0.82 earnings per share for the current year.

Institutional Trading of Enovix

A number of institutional investors have recently modified their holdings of ENVX. Essex Investment Management Co. LLC lifted its stake in shares of Enovix by 68.8% during the 4th quarter. Essex Investment Management Co. LLC now owns 163,944 shares of the company’s stock valued at $4,472,000 after buying an additional 66,823 shares in the last quarter. CAPROCK Group Inc. purchased a new stake in shares of Enovix during the 1st quarter valued at approximately $305,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Enovix during the 1st quarter valued at approximately $6,680,000. Octavia Wealth Advisors LLC purchased a new stake in shares of Enovix during the 1st quarter valued at approximately $193,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of Enovix during the 1st quarter valued at approximately $264,000. 56.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ENVX shares. JPMorgan Chase & Co. started coverage on shares of Enovix in a research report on Friday. They issued an “overweight” rating and a $20.00 price objective for the company. Cowen reduced their price objective on shares of Enovix from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. Finally, Cowen reduced their price objective on shares of Enovix from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Enovix has an average rating of “Buy” and an average target price of $28.00.

About Enovix

(Get Rating)

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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