Nwam LLC Invests $98,000 in Enovix Co. (NASDAQ:ENVX)

Nwam LLC purchased a new stake in Enovix Co. (NASDAQ:ENVX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,449 shares of the company’s stock, valued at approximately $98,000.

Other institutional investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in Enovix during the 3rd quarter valued at about $27,000. Blue Trust Inc. lifted its holdings in Enovix by 102.1% in the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after buying an additional 957 shares during the period. Beacon Capital Management LLC lifted its holdings in Enovix by 71.9% in the first quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock valued at $34,000 after buying an additional 1,798 shares during the period. GAMMA Investing LLC boosted its stake in Enovix by 11,176.2% in the second quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock valued at $37,000 after acquiring an additional 2,347 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Enovix during the 2nd quarter valued at $39,000. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Down 3.3 %

ENVX stock opened at $9.22 on Wednesday. The business has a 50-day moving average of $10.00 and a 200-day moving average of $11.31. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The stock has a market capitalization of $1.64 billion, a P/E ratio of -5.73 and a beta of 1.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The company had revenue of $4.30 million for the quarter, compared to the consensus estimate of $4.11 million. During the same period last year, the company earned ($0.27) earnings per share. On average, sell-side analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Arthi Chakravarthy sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the sale, the insider now directly owns 343,305 shares in the company, valued at approximately $4,462,965. The trade was a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 15.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ENVX has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Janney Montgomery Scott lowered Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research report on Thursday, October 31st. TD Cowen boosted their price target on shares of Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Finally, Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

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.