Enovix Co. (NASDAQ:ENVX) Shares Purchased by Lowe Wealth Advisors LLC

Lowe Wealth Advisors LLC raised its position in Enovix Co. (NASDAQ:ENVX) by 722.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,480 shares of the company’s stock after buying an additional 1,300 shares during the period. Lowe Wealth Advisors LLC’s holdings in Enovix were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Enovix by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,160,113 shares of the company’s stock worth $204,621,000 after buying an additional 1,038,778 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Enovix by 0.7% during the 1st quarter. BlackRock Inc. now owns 6,922,626 shares of the company’s stock worth $103,216,000 after purchasing an additional 49,389 shares during the last quarter. Encompass Capital Advisors LLC grew its position in shares of Enovix by 26.8% in the fourth quarter. Encompass Capital Advisors LLC now owns 3,461,231 shares of the company’s stock valued at $43,058,000 after purchasing an additional 732,485 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Enovix by 42.3% in the first quarter. Handelsbanken Fonder AB now owns 2,605,820 shares of the company’s stock valued at $38,853,000 after purchasing an additional 774,802 shares in the last quarter. Finally, Granahan Investment Management LLC grew its position in shares of Enovix by 14.4% in the first quarter. Granahan Investment Management LLC now owns 2,183,300 shares of the company’s stock valued at $32,553,000 after purchasing an additional 274,482 shares in the last quarter. 49.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Enovix

In other news, Director Betsy S. Atkins sold 4,528 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.02, for a total transaction of $68,010.56. Following the completion of the sale, the director now owns 195,369 shares in the company, valued at $2,934,442.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Betsy S. Atkins sold 36,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $16.25, for a total value of $585,000.00. Following the completion of the sale, the director now owns 159,369 shares in the company, valued at $2,589,746.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Betsy S. Atkins sold 4,528 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.02, for a total transaction of $68,010.56. Following the completion of the sale, the director now owns 195,369 shares of the company’s stock, valued at approximately $2,934,442.38. The disclosure for this sale can be found here. Insiders own 17.30% of the company’s stock.

Enovix Stock Performance

Shares of ENVX stock opened at $15.04 on Friday. The stock’s 50-day moving average is $16.95 and its two-hundred day moving average is $14.28. Enovix Co. has a 1 year low of $6.50 and a 1 year high of $23.90. The company has a quick ratio of 11.05, a current ratio of 11.07 and a debt-to-equity ratio of 0.67.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, July 26th. The company reported ($0.29) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.29). The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.06 million. Enovix had a negative return on equity of 55.12% and a negative net margin of 19,854.21%. As a group, sell-side analysts forecast that Enovix Co. will post -1.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ENVX shares. TD Cowen lowered Enovix from an “outperform” rating to a “market perform” rating and upped their price target for the company from $19.00 to $20.00 in a research report on Friday, July 21st. Craig Hallum upped their price objective on Enovix from $15.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price objective on shares of Enovix in a report on Friday, September 8th. Finally, B. Riley upped their price objective on Enovix from $18.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 20th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Enovix presently has an average rating of “Moderate Buy” and an average target price of $26.83.

Enovix Profile

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