Ajay Marathe Sells 4,954 Shares of Enovix Co. (NASDAQ:ENVX) Stock

Enovix Co. (NASDAQ:ENVX) COO Ajay Marathe sold 4,954 shares of the company’s stock in a transaction on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of the sale, the chief operating officer now directly owns 978,913 shares in the company, valued at $7,155,854.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Enovix Trading Down 3.8 %

NASDAQ:ENVX opened at $6.63 on Thursday. Enovix Co. has a twelve month low of $6.61 and a twelve month high of $23.90. The company has a debt-to-equity ratio of 0.65, a quick ratio of 5.15 and a current ratio of 5.30. The company has a 50-day moving average of $8.96 and a 200-day moving average of $10.32.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The firm had revenue of $7.38 million for the quarter, compared to analysts’ expectations of $3.37 million. Enovix had a negative net margin of 2,800.51% and a negative return on equity of 77.74%. Equities analysts expect that Enovix Co. will post -1.13 earnings per share for the current year.

Analysts Set New Price Targets

ENVX has been the topic of a number of research reports. Canaccord Genuity Group reissued a “buy” rating and set a $17.00 target price on shares of Enovix in a report on Wednesday, February 21st. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Enovix has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

Hedge Funds Weigh In On Enovix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. acquired a new stake in shares of Enovix in the 3rd quarter valued at $26,000. Quantbot Technologies LP acquired a new position in shares of Enovix during the second quarter valued at about $26,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Enovix during the third quarter valued at about $31,000. Beacon Capital Management LLC raised its position in shares of Enovix by 66.7% during the fourth quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock valued at $31,000 after buying an additional 1,000 shares during the last quarter. Finally, Carmel Capital Partners LLC bought a new stake in Enovix in the third quarter valued at about $34,000. Institutional investors own 50.92% of the company’s stock.

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.