Wealthsource Partners LLC Takes Position in Enovix Co. (NASDAQ:ENVX)

Wealthsource Partners LLC acquired a new stake in Enovix Co. (NASDAQ:ENVX – Get Rating) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,333 shares of the company’s stock, valued at approximately $428,000.

Other hedge funds have also added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new position in shares of Enovix during the third quarter valued at $26,000. Quantbot Technologies LP acquired a new position in shares of Enovix in the second quarter worth approximately $26,000. HBK Sorce Advisory LLC bought a new stake in Enovix in the third quarter valued at approximately $48,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Enovix during the 2nd quarter valued at approximately $61,000. Finally, Emerald Advisers LLC bought a new position in Enovix during the 3rd quarter worth approximately $62,000. 55.62% of the stock is currently owned by institutional investors and hedge funds.

Enovix Stock Up 1.1 %

Shares of NASDAQ:ENVX opened at $10.99 on Wednesday. Enovix Co. has a twelve month low of $6.50 and a twelve month high of $26.30. The stock’s 50 day moving average is $8.67 and its 200-day moving average is $13.33. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -9.64 and a beta of 0.99.

Analysts Set New Price Targets

A number of research firms have recently commented on ENVX. Canaccord Genuity Group began coverage on shares of Enovix in a research note on Wednesday, January 11th. They issued a “buy” rating and a $20.00 price objective on the stock. B. Riley lowered their price objective on Enovix from $19.00 to $18.00 in a research report on Wednesday, January 4th. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of Enovix in a research report on Friday, March 10th. EF Hutton Acquisition Co. I reiterated a “buy” rating and issued a $18.00 target price on shares of Enovix in a report on Thursday, February 23rd. Finally, Piper Sandler increased their price target on Enovix from $22.50 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Enovix presently has a consensus rating of “Buy” and a consensus price target of $27.92.

Insider Activity at Enovix

In other Enovix news, Director Thurman J. Rodgers acquired 65,134 shares of the stock in a transaction on Friday, March 10th. The shares were purchased at an average price of $9.56 per share, for a total transaction of $622,681.04. Following the completion of the acquisition, the director now owns 465,134 shares in the company, valued at approximately $4,446,681.04. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO Ashok Lahiri sold 2,000 shares of Enovix stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $12.81, for a total transaction of $25,620.00. Following the transaction, the chief technology officer now owns 1,358,265 shares of the company’s stock, valued at $17,399,374.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thurman J. Rodgers purchased 65,134 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was bought at an average cost of $9.56 per share, with a total value of $622,681.04. Following the completion of the transaction, the director now directly owns 465,134 shares in the company, valued at approximately $4,446,681.04. The disclosure for this purchase can be found here. 20.60% of the stock is currently owned by insiders.

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.