Scotia Capital Inc. Boosts Stock Position in Enovix Corporation $ENVX

Scotia Capital Inc. boosted its holdings in shares of Enovix Corporation (NASDAQ:ENVX) by 49.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 365,040 shares of the company’s stock after purchasing an additional 120,897 shares during the period. Scotia Capital Inc.’s holdings in Enovix were worth $3,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in Enovix by 1.1% in the 2nd quarter. Franklin Resources Inc. now owns 96,239 shares of the company’s stock worth $995,000 after buying an additional 1,093 shares during the period. tru Independence LLC raised its holdings in shares of Enovix by 0.4% during the second quarter. tru Independence LLC now owns 295,690 shares of the company’s stock valued at $3,057,000 after acquiring an additional 1,155 shares in the last quarter. Intellectus Partners LLC raised its holdings in shares of Enovix by 1.2% during the second quarter. Intellectus Partners LLC now owns 103,522 shares of the company’s stock valued at $1,070,000 after acquiring an additional 1,200 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Enovix by 5.7% in the second quarter. Teacher Retirement System of Texas now owns 24,606 shares of the company’s stock worth $254,000 after acquiring an additional 1,336 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its holdings in Enovix by 8.2% in the second quarter. Wealthcare Advisory Partners LLC now owns 22,640 shares of the company’s stock valued at $234,000 after acquiring an additional 1,714 shares in the last quarter. Institutional investors own 50.92% of the company’s stock.

Insider Transactions at Enovix

In other Enovix news, COO Ajay Marathe sold 120,000 shares of Enovix stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $12.01, for a total transaction of $1,441,200.00. Following the completion of the transaction, the chief operating officer owned 1,027,259 shares in the company, valued at approximately $12,337,380.59. The trade was a 10.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.10% of the company’s stock.

Enovix Trading Up 4.0%

Shares of NASDAQ ENVX opened at $7.83 on Friday. The stock has a market cap of $1.69 billion, a P/E ratio of -9.67 and a beta of 2.09. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.72 and a quick ratio of 9.47. Enovix Corporation has a 1 year low of $5.27 and a 1 year high of $16.49. The firm has a 50-day moving average of $10.40 and a 200 day moving average of $10.35.

Enovix (NASDAQ:ENVX) last announced its earnings results on Tuesday, September 9th. The company reported ($0.13) earnings per share for the quarter. Enovix had a negative net margin of 525.93% and a negative return on equity of 61.78%. The business had revenue of $7.47 million for the quarter. As a group, sell-side analysts expect that Enovix Corporation will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on ENVX. Wall Street Zen lowered shares of Enovix from a “hold” rating to a “sell” rating in a report on Saturday, September 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Canaccord Genuity Group lowered their price objective on shares of Enovix from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Finally, Northland Securities set a $16.00 price objective on Enovix in a research report on Monday, November 17th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Enovix has a consensus rating of “Hold” and an average price target of $17.50.

Enovix Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.