Cutter & CO Brokerage Inc. Acquires 3,596 Shares of Enovix Co. (NASDAQ:ENVX)

Cutter & CO Brokerage Inc. grew its holdings in Enovix Co. (NASDAQ:ENVX) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,443 shares of the company’s stock after purchasing an additional 3,596 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Enovix were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Prospera Private Wealth LLC acquired a new stake in shares of Enovix in the 3rd quarter valued at approximately $27,000. Fifth Third Bancorp raised its position in shares of Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after acquiring an additional 1,000 shares during the period. R Squared Ltd acquired a new stake in shares of Enovix in the 4th quarter valued at approximately $64,000. Voisard Asset Management Group Inc. raised its position in shares of Enovix by 40.0% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock valued at $65,000 after acquiring an additional 2,000 shares during the period. Finally, Quest Partners LLC raised its position in shares of Enovix by 318.5% in the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock valued at $77,000 after acquiring an additional 6,294 shares during the period. Institutional investors own 50.92% of the company’s stock.

Analyst Upgrades and Downgrades

ENVX has been the topic of a number of analyst reports. Craig Hallum cut their price target on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research report on Thursday, February 20th. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Thursday, October 31st. Finally, Benchmark restated a “buy” rating and set a $25.00 target price on shares of Enovix in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

Insider Transactions at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total transaction of $729,750.00. Following the completion of the transaction, the director now directly owns 99,497 shares of the company’s stock, valued at $968,105.81. This trade represents a 42.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.70% of the company’s stock.

Enovix Stock Performance

Shares of ENVX stock opened at $9.44 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The company has a market capitalization of $1.68 billion, a P/E ratio of -6.51 and a beta of 1.87. The company’s 50 day moving average price is $11.19 and its two-hundred day moving average price is $10.27. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. The company had revenue of $9.72 million during the quarter, compared to analysts’ expectations of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. On average, analysts expect that Enovix Co. will post -1.01 earnings per share for the current fiscal year.

Enovix 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.