Stifel Financial Corp Has $8.88 Million Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Stifel Financial Corp increased its stake in Enovix Co. (NASDAQ:ENVX) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 950,202 shares of the company’s stock after acquiring an additional 55,094 shares during the quarter. Stifel Financial Corp owned about 0.53% of Enovix worth $8,875,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in shares of Enovix by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 40,097 shares of the company’s stock valued at $620,000 after purchasing an additional 905 shares during the last quarter. Blue Trust Inc. boosted its position in Enovix by 102.1% during the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after acquiring an additional 957 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Enovix by 6.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock worth $202,000 after acquiring an additional 1,367 shares in the last quarter. Clear Creek Financial Management LLC lifted its stake in shares of Enovix by 3.0% in the 3rd quarter. Clear Creek Financial Management LLC now owns 48,200 shares of the company’s stock valued at $450,000 after purchasing an additional 1,400 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Enovix by 7.7% during the 2nd quarter. Principal Financial Group Inc. now owns 20,079 shares of the company’s stock valued at $310,000 after purchasing an additional 1,434 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors.

Enovix Price Performance

Shares of NASDAQ ENVX opened at $9.10 on Friday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -5.65 and a beta of 1.94. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. Enovix Co. has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The firm’s 50-day simple moving average is $10.10 and its 200 day simple moving average is $11.27.

Enovix (NASDAQ:ENVX) last posted its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. The company had revenue of $4.30 million for the quarter, compared to analyst estimates of $4.11 million. During the same quarter last year, the company earned ($0.27) earnings per share. As a group, research analysts anticipate that Enovix Co. will post -1.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ENVX. JPMorgan Chase & Co. lowered their target price on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Oppenheimer reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enovix in a research note on Monday, August 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Finally, Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enovix currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Insiders Place Their Bets

In other news, insider Arthi Chakravarthy sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the transaction, the insider now owns 343,305 shares in the company, valued at $4,462,965. The trade was a 9.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the sale, the director now directly owns 99,497 shares of the company’s stock, valued at $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.70% of the company’s stock.

Enovix 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.