Gladstone Institutional Advisory LLC Cuts Stake in Enovix Co. (NASDAQ:ENVX)

Gladstone Institutional Advisory LLC trimmed its stake in Enovix Co. (NASDAQ:ENVX) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,815 shares of the company’s stock after selling 3,300 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Enovix were worth $2,020,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ENVX. Fifth Third Bancorp grew its position in Enovix by 66.7% during the fourth 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. Prospera Private Wealth LLC acquired a new stake in shares of Enovix in the third quarter worth $27,000. R Squared Ltd purchased a new position in Enovix in the fourth quarter valued at about $64,000. Voisard Asset Management Group Inc. grew its stake in shares of Enovix by 40.0% in the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock valued at $65,000 after buying an additional 2,000 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Enovix by 318.5% during the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company’s stock valued at $77,000 after buying an additional 6,294 shares during the period. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Stock Up 3.1 %

Shares of Enovix stock opened at $10.90 on Thursday. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The business’s 50 day simple moving average is $10.89 and its 200-day simple moving average is $10.37.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ENVX. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Benchmark restated a “buy” rating and issued a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Insiders Place Their Bets

In other Enovix 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 value of $729,750.00. Following the sale, the director now owns 99,497 shares in the company, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.70% of the stock is owned by corporate insiders.

Enovix Company 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.