Old West Investment Management LLC Sells 292,740 Shares of Enovix Corporation $ENVX

Old West Investment Management LLC lessened its holdings in Enovix Corporation (NASDAQ:ENVX) by 35.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 542,797 shares of the company’s stock after selling 292,740 shares during the period. Enovix comprises 1.9% of Old West Investment Management LLC’s holdings, making the stock its 20th biggest position. Old West Investment Management LLC owned 0.28% of Enovix worth $5,613,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC bought a new stake in Enovix during the 2nd quarter valued at $13,206,000. Y Intercept Hong Kong Ltd bought a new position in shares of Enovix in the 2nd quarter worth $3,612,000. Driehaus Capital Management LLC lifted its stake in shares of Enovix by 1.8% during the 1st quarter. Driehaus Capital Management LLC now owns 2,323,612 shares of the company’s stock worth $17,055,000 after purchasing an additional 41,559 shares during the last quarter. L & S Advisors Inc lifted its stake in shares of Enovix by 50.6% during the 1st quarter. L & S Advisors Inc now owns 191,975 shares of the company’s stock worth $1,409,000 after purchasing an additional 64,471 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Enovix by 18.2% during the first quarter. Blair William & Co. IL now owns 308,795 shares of the company’s stock valued at $2,267,000 after purchasing an additional 47,477 shares in the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enovix

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

Enovix Stock Performance

ENVX opened at $8.08 on Friday. The company has a market cap of $1.74 billion, a P/E ratio of -9.98 and a beta of 2.09. The company has a quick ratio of 9.47, a current ratio of 9.72 and a debt-to-equity ratio of 1.74. The firm’s 50-day moving average price is $10.75 and its 200-day moving average price is $10.26. Enovix Corporation has a 52-week low of $5.27 and a 52-week high of $16.49.

Enovix (NASDAQ:ENVX) last released its earnings results on Tuesday, September 9th. The company reported ($0.13) earnings per share for the quarter. Enovix had a negative return on equity of 61.78% and a negative net margin of 525.93%.The company had revenue of $7.47 million for the quarter. As a group, equities analysts anticipate that Enovix Corporation will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Cantor Fitzgerald reduced their target price on shares of Enovix from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enovix in a research report on Friday, October 31st. Oppenheimer set a $24.00 price objective on shares of Enovix in a research note on Thursday, November 6th. Wall Street Zen downgraded shares of Enovix from a “hold” rating to a “sell” rating in a research note on Saturday, September 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.67.

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.