Moody National Bank Trust Division Invests $343,000 in Enovix Co. (NASDAQ:ENVX)

Moody National Bank Trust Division bought a new position in shares of Enovix Co. (NASDAQ:ENVXGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 38,450 shares of the company’s stock, valued at approximately $343,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of America Corp DE raised its position in shares of Enovix by 316.8% during the 1st quarter. Bank of America Corp DE now owns 162,672 shares of the company’s stock worth $2,322,000 after acquiring an additional 123,645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Enovix by 85.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,720 shares of the company’s stock worth $795,000 after buying an additional 25,615 shares during the last quarter. Polar Asset Management Partners Inc. increased its position in Enovix by 507.3% during the first quarter. Polar Asset Management Partners Inc. now owns 852,100 shares of the company’s stock worth $12,159,000 after buying an additional 711,800 shares during the period. Summit Partners Public Asset Management LLC lifted its stake in Enovix by 1.2% in the first quarter. Summit Partners Public Asset Management LLC now owns 3,582,986 shares of the company’s stock valued at $51,129,000 after buying an additional 41,990 shares during the last quarter. Finally, Electron Capital Partners LLC boosted its holdings in shares of Enovix by 2.5% in the first quarter. Electron Capital Partners LLC now owns 7,066,553 shares of the company’s stock valued at $100,840,000 after acquiring an additional 170,248 shares during the period. Institutional investors and hedge funds own 61.75% of the company’s stock.

Enovix Stock Up 4.8 %

Shares of ENVX opened at $22.79 on Tuesday. The company has a 50-day simple moving average of $17.46 and a 200-day simple moving average of $13.54. The company has a market capitalization of $3.58 billion, a PE ratio of -22.34 and a beta of 1.96. Enovix Co. has a 52-week low of $7.26 and a 52-week high of $39.48.

Enovix (NASDAQ:ENVXGet Rating) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. During the same quarter in the previous year, the company posted ($0.21) earnings per share. On average, research analysts anticipate that Enovix Co. will post -0.77 EPS for the current year.

Insider Activity

In other news, CTO Ashok Lahiri sold 2,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $13.30, for a total value of $26,600.00. Following the completion of the transaction, the chief technology officer now owns 1,407,993 shares in the company, valued at approximately $18,726,306.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Enovix news, CEO Harrold J. Rust sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $20.46, for a total transaction of $92,070.00. Following the completion of the transaction, the chief executive officer now directly owns 1,375,031 shares in the company, valued at approximately $28,133,134.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Ashok Lahiri sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $13.30, for a total transaction of $26,600.00. Following the transaction, the chief technology officer now owns 1,407,993 shares of the company’s stock, valued at $18,726,306.90. The disclosure for this sale can be found here. Insiders sold 87,500 shares of company stock worth $1,466,550 in the last 90 days. 20.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ENVX. JPMorgan Chase & Co. began coverage on shares of Enovix in a research note on Friday, August 5th. They set an “overweight” rating and a $20.00 price target for the company. Northland Securities increased their price target on shares of Enovix from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th. Cowen increased their price target on shares of Enovix from $19.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 24th. Craig Hallum increased their price target on shares of Enovix from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, Loop Capital increased their price target on shares of Enovix from $50.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $39.38.

Enovix Profile

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Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.

Further Reading

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Institutional Ownership by Quarter for Enovix (NASDAQ:ENVX)

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