Axim Planning & Wealth Has $254,000 Stock Holdings in Enovix Corporation $ENVX

Axim Planning & Wealth grew its holdings in Enovix Corporation (NASDAQ:ENVX) by 29.4% during the second quarter, Holdings Channel reports. The firm owned 24,552 shares of the company’s stock after acquiring an additional 5,571 shares during the quarter. Axim Planning & Wealth’s holdings in Enovix were worth $254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENVX. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Enovix by 15.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 67,088 shares of the company’s stock valued at $492,000 after purchasing an additional 9,024 shares during the period. Teacher Retirement System of Texas bought a new stake in Enovix in the 1st quarter valued at about $171,000. OneDigital Investment Advisors LLC increased its position in Enovix by 16.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 35,253 shares of the company’s stock valued at $259,000 after buying an additional 5,003 shares in the last quarter. Bank of New York Mellon Corp increased its position in Enovix by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 504,179 shares of the company’s stock valued at $3,701,000 after buying an additional 2,640 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in Enovix by 4.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 66,604 shares of the company’s stock valued at $489,000 after buying an additional 3,123 shares in the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Enovix

In other news, COO Ajay Marathe sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $12.01, for a total value of $1,441,200.00. Following the transaction, the chief operating officer owned 1,027,259 shares in the company, valued at $12,337,380.59. The trade was a 10.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ENVX. Wall Street Zen lowered Enovix from a “hold” rating to a “sell” rating in a research report on Saturday, September 6th. B. Riley reaffirmed a “buy” rating and issued a $17.00 target price (up from $12.00) on shares of Enovix in a research report on Thursday, July 10th. Cowen reaffirmed a “hold” rating on shares of Enovix in a research report on Tuesday, July 8th. Benchmark boosted their price objective on Enovix from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Canaccord Genuity Group boosted their price objective on Enovix from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.88.

Enovix Stock Performance

Shares of ENVX opened at $11.11 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.37. The stock has a 50 day moving average price of $10.80 and a two-hundred day moving average price of $10.17. The firm has a market capitalization of $2.18 billion, a P/E ratio of -13.23 and a beta of 2.09. Enovix Corporation has a 52 week low of $5.27 and a 52 week high of $16.49.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Tuesday, September 9th. The company reported ($0.13) EPS for the quarter. Enovix had a negative return on equity of 73.88% and a negative net margin of 481.35%.The company had revenue of $7.47 million for the quarter. Equities analysts forecast that Enovix Corporation will post -1.01 earnings per share for the current fiscal year.

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.