Prospera Private Wealth LLC Takes $27,000 Position in Enovix Co. (NASDAQ:ENVX)

Prospera Private Wealth LLC acquired a new position in shares of Enovix Co. (NASDAQ:ENVX) during the 3rd quarter, Holdings Channel reports. The fund acquired 2,894 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its holdings in shares of Enovix by 52.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company’s stock valued at $2,541,000 after buying an additional 93,303 shares during the period. One Wealth Advisors LLC bought a new position in shares of Enovix during the 3rd quarter valued at about $700,000. Vanguard Group Inc. increased its stake in Enovix by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock worth $104,881,000 after purchasing an additional 164,717 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Enovix by 63.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock worth $60,085,000 after buying an additional 1,512,424 shares during the period. Finally, Scientech Research LLC acquired a new position in shares of Enovix in the second quarter valued at approximately $834,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Craig Hallum raised their price objective on shares of Enovix from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Janney Montgomery Scott downgraded Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Finally, TD Cowen boosted their target price on Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and an average target price of $20.50.

Insider Buying and Selling

In related news, insider Arthi Chakravarthy sold 35,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the sale, the insider now owns 343,305 shares in the company, valued at approximately $4,462,965. This represents a 9.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.70% of the stock is currently owned by corporate insiders.

Enovix Trading Up 3.6 %

NASDAQ ENVX opened at $9.43 on Friday. The company has a market cap of $1.68 billion, a PE ratio of -5.86 and a beta of 1.99. Enovix Co. has a 12 month low of $5.70 and a 12 month high of $18.68. The stock has a 50 day moving average of $10.01 and a 200-day moving average of $11.28. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. The firm had revenue of $4.30 million during the quarter, compared to analysts’ expectations of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same quarter last year, the company posted ($0.27) earnings per share. On average, equities research analysts anticipate that Enovix Co. will post -1.17 EPS for the current fiscal year.

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.