Zurcher Kantonalbank Zurich Cantonalbank Has $348,000 Holdings in Enovix Co. (NASDAQ:ENVX)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Enovix Co. (NASDAQ:ENVX) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,805 shares of the company’s stock after buying an additional 4,137 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Enovix were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Beacon Capital Management LLC raised its stake in shares of Enovix by 66.7% in the fourth quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares during the last quarter. Amalgamated Bank lifted its holdings in Enovix by 5.9% during the 3rd quarter. Amalgamated Bank now owns 20,827 shares of the company’s stock worth $261,000 after buying an additional 1,154 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Enovix by 10.5% in the 3rd quarter. Victory Capital Management Inc. now owns 14,253 shares of the company’s stock valued at $179,000 after buying an additional 1,351 shares during the period. Insight Advisors LLC PA raised its position in shares of Enovix by 3.2% during the fourth quarter. Insight Advisors LLC PA now owns 44,354 shares of the company’s stock worth $555,000 after acquiring an additional 1,370 shares during the last quarter. Finally, Scotia Capital Inc. lifted its stake in shares of Enovix by 7.7% during the third quarter. Scotia Capital Inc. now owns 19,680 shares of the company’s stock valued at $247,000 after acquiring an additional 1,410 shares during the period. Institutional investors own 50.92% of the company’s stock.

Insider Transactions at Enovix

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the company’s stock in a transaction that occurred on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of the transaction, the chief operating officer now owns 978,913 shares of the company’s stock, valued at approximately $7,155,854.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on ENVX shares. JPMorgan Chase & Co. lowered their price objective on Enovix from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. B. Riley reduced their price objective on shares of Enovix from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of Enovix in a research report on Thursday, April 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Enovix in a research note on Wednesday, February 21st. Finally, Craig Hallum cut their target price on Enovix from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and a consensus target price of $25.29.

Enovix Stock Up 6.5 %

NASDAQ:ENVX opened at $10.09 on Friday. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -7.53 and a beta of 1.70. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $7.88 and a two-hundred day moving average price of $10.01. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $23.90.

Enovix (NASDAQ:ENVX) last posted its earnings results on Tuesday, February 20th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The business had revenue of $7.38 million for the quarter, compared to the consensus estimate of $3.37 million. Enovix had a negative return on equity of 83.66% and a negative net margin of 1,448.90%. As a group, equities analysts expect that Enovix Co. will post -1.13 earnings per share for the current year.

About Enovix

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.