Enovix Co. (NASDAQ:ENVX) Shares Bought by White Pine Capital LLC

White Pine Capital LLC raised its position in Enovix Co. (NASDAQ:ENVX) by 31.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 85,761 shares of the company’s stock after buying an additional 20,415 shares during the period. White Pine Capital LLC owned about 0.05% of Enovix worth $1,074,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Cutter & CO Brokerage Inc. lifted its stake in Enovix by 35.4% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 24,688 shares of the company’s stock worth $309,000 after purchasing an additional 6,450 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Enovix by 17.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,805 shares of the company’s stock worth $348,000 after purchasing an additional 4,137 shares in the last quarter. Flputnam Investment Management Co. lifted its stake in Enovix by 61.2% in the 4th quarter. Flputnam Investment Management Co. now owns 23,976 shares of the company’s stock worth $300,000 after purchasing an additional 9,099 shares in the last quarter. AlphaQ Advisors LLC lifted its stake in Enovix by 54.5% in the 4th quarter. AlphaQ Advisors LLC now owns 17,400 shares of the company’s stock worth $218,000 after purchasing an additional 6,135 shares in the last quarter. Finally, Wealth Effects LLC lifted its stake in Enovix by 3.9% in the 4th quarter. Wealth Effects LLC now owns 101,750 shares of the company’s stock worth $1,274,000 after purchasing an additional 3,799 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ENVX shares. JPMorgan Chase & Co. decreased their target price on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 target price on shares of Enovix in a research note on Wednesday, February 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.43.

Enovix Trading Up 10.6 %

Shares of ENVX stock traded up $0.62 during trading on Friday, hitting $6.46. 4,818,734 shares of the stock traded hands, compared to its average volume of 3,753,701. The firm has a market capitalization of $1.09 billion, a P/E ratio of -4.22 and a beta of 1.62. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15. The firm’s fifty day moving average price is $8.18 and its 200-day moving average price is $10.11. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $23.90.

Enovix (NASDAQ:ENVX) last announced 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 firm had revenue of $7.38 million during 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%. As a group, research analysts forecast that Enovix Co. will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Enovix

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the business’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 value of $36,213.74. Following the sale, the chief operating officer now owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.30% of the stock is owned by corporate insiders.

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.