Enovix Co. (NASDAQ:ENVX) COO Sells $36,213.74 in Stock

Enovix Co. (NASDAQ:ENVX) 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 transaction of $36,213.74. Following the completion of the sale, the chief operating officer now owns 978,913 shares of the company’s stock, valued at approximately $7,155,854.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Enovix Stock Performance

Shares of NASDAQ ENVX opened at $6.63 on Thursday. Enovix Co. has a 52-week low of $6.61 and a 52-week high of $23.90. The company has a debt-to-equity ratio of 0.65, a quick ratio of 5.15 and a current ratio of 5.30. The company’s 50 day moving average price is $8.96 and its 200-day moving average price is $10.32.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $7.38 million during the quarter, compared to analyst estimates of $3.37 million. Research analysts forecast that Enovix Co. will post -1.13 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Credit Suisse AG raised its holdings in Enovix by 1.1% during the second quarter. Credit Suisse AG now owns 55,808 shares of the company’s stock worth $498,000 after buying an additional 603 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Enovix by 1.9% during the fourth quarter. Corient Private Wealth LLC now owns 49,587 shares of the company’s stock worth $621,000 after buying an additional 910 shares during the last quarter. Beacon Capital Management LLC increased its stake in shares of Enovix by 66.7% in the fourth quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Enovix by 0.8% in the fourth quarter. Legal & General Group Plc now owns 129,527 shares of the company’s stock worth $1,622,000 after purchasing an additional 1,011 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Enovix by 5.9% in the third quarter. Amalgamated Bank now owns 20,827 shares of the company’s stock valued at $261,000 after acquiring an additional 1,154 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ENVX. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 target price on shares of Enovix in a report on Wednesday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Enovix in a report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.29.

About Enovix

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.