Legacy Capital Group California Inc. Buys 5,819 Shares of Enovix Co. (NASDAQ:ENVX)

Legacy Capital Group California Inc. grew its stake in Enovix Co. (NASDAQ:ENVX) by 20.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,841 shares of the company’s stock after acquiring an additional 5,819 shares during the period. Legacy Capital Group California Inc.’s holdings in Enovix were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Private Advisor Group LLC boosted its holdings in Enovix by 23.6% in the third quarter. Private Advisor Group LLC now owns 99,900 shares of the company’s stock valued at $933,000 after acquiring an additional 19,056 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Enovix by 34.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,077 shares of the company’s stock valued at $188,000 after purchasing an additional 5,162 shares during the period. Voisard Asset Management Group Inc. boosted its stake 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 purchasing an additional 2,000 shares during the last quarter. Gladstone Institutional Advisory LLC grew its position in shares of Enovix by 1.9% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 189,115 shares of the company’s stock worth $1,766,000 after buying an additional 3,525 shares during the period. Finally, Clear Creek Financial Management LLC raised its stake in shares of Enovix by 3.0% during the third quarter. Clear Creek Financial Management LLC now owns 48,200 shares of the company’s stock worth $450,000 after buying an additional 1,400 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Enovix Stock Performance

ENVX opened at $10.72 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The company has a market capitalization of $1.91 billion, a PE ratio of -7.39 and a beta of 1.87. The business has a fifty day simple moving average of $11.15 and a 200 day simple moving average of $10.30. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68.

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

Insiders Place Their Bets

In related news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the sale, the director now directly owns 99,497 shares in the company, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 15.70% of the company’s stock.

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.