Deuterium Capital Management LLC Trims Position in Enovix Corporation $ENVX

Deuterium Capital Management LLC trimmed its holdings in shares of Enovix Corporation (NASDAQ:ENVX) by 23.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,375 shares of the company’s stock after selling 41,401 shares during the quarter. Enovix accounts for about 2.7% of Deuterium Capital Management LLC’s portfolio, making the stock its 7th largest position. Deuterium Capital Management LLC owned 0.07% of Enovix worth $1,431,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Stone House Investment Management LLC bought a new stake in shares of Enovix in the 1st quarter valued at $37,000. Smith Salley Wealth Management bought a new stake in shares of Enovix in the 1st quarter valued at $75,000. AMG National Trust Bank bought a new stake in shares of Enovix in the 1st quarter valued at $75,000. Integrity Alliance LLC. bought a new stake in shares of Enovix in the 1st quarter valued at $98,000. Finally, Ieq Capital LLC bought a new stake in shares of Enovix in the 1st quarter valued at $104,000. 50.92% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Ajay Marathe sold 18,614 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $13.00, for a total value of $241,982.00. Following the completion of the sale, the chief operating officer owned 1,002,684 shares in the company, valued at $13,034,892. This represents a 1.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 14.10% of the stock is currently owned by insiders.

Enovix Stock Performance

ENVX opened at $11.68 on Wednesday. The company has a current ratio of 4.37, a quick ratio of 4.11 and a debt-to-equity ratio of 0.82. The company’s fifty day moving average price is $10.67 and its two-hundred day moving average price is $9.95. Enovix Corporation has a 1-year low of $5.27 and a 1-year high of $16.49. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -13.90 and a beta of 2.07.

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

Enovix announced that its board has initiated a stock buyback program on Wednesday, July 2nd that permits the company to repurchase $60.00 million in shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovix in a research note on Wednesday, October 8th. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 price objective (up from $12.00) on shares of Enovix in a research note on Tuesday, July 8th. B. Riley reiterated a “buy” rating and set a $17.00 target price (up previously from $12.00) on shares of Enovix in a research report on Thursday, July 10th. Cowen reiterated a “hold” rating on shares of Enovix in a research report on Tuesday, July 8th. Finally, TD Cowen upgraded shares of Enovix to a “hold” rating and boosted their target price for the company from $7.00 to $15.00 in a research report on Monday, July 7th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Enovix presently has an average rating of “Hold” and a consensus price target of $17.00.

Enovix Company 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.