Flputnam Investment Management Co. Acquires 9,099 Shares of Enovix Co. (NASDAQ:ENVX)

Flputnam Investment Management Co. grew its holdings in Enovix Co. (NASDAQ:ENVX) by 61.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,976 shares of the company’s stock after acquiring an additional 9,099 shares during the quarter. Flputnam Investment Management Co.’s holdings in Enovix were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ENVX. Vanguard Group Inc. increased its holdings in Enovix by 9.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,415,485 shares of the company’s stock worth $155,814,000 after purchasing an additional 1,072,508 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Enovix by 24.7% during the second quarter. BlackRock Inc. now owns 8,635,683 shares of the company’s stock worth $155,788,000 after buying an additional 1,713,057 shares in the last quarter. Electron Capital Partners LLC raised its position in Enovix by 188.0% in the 3rd quarter. Electron Capital Partners LLC now owns 2,698,897 shares of the company’s stock valued at $33,871,000 after buying an additional 1,761,834 shares during the last quarter. State Street Corp lifted its stake in Enovix by 22.0% in the 2nd quarter. State Street Corp now owns 2,622,992 shares of the company’s stock valued at $47,319,000 after acquiring an additional 473,011 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Enovix by 0.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,622,620 shares of the company’s stock worth $32,914,000 after acquiring an additional 9,800 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Price Performance

NASDAQ:ENVX opened at $6.01 on Friday. Enovix Co. has a 1-year low of $5.86 and a 1-year high of $23.90. The firm has a fifty day simple moving average of $8.87 and a 200 day simple moving average of $10.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The firm had revenue of $7.38 million for the quarter, compared to analyst estimates of $3.37 million. Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. On average, sell-side analysts expect that Enovix Co. will post -1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 978,913 shares in the company, valued at approximately $7,155,854.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Enovix Company Profile

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.