Headlands Technologies LLC Makes New Investment in Enovix Co. (NASDAQ:ENVX)

Headlands Technologies LLC bought a new position in shares of Enovix Co. (NASDAQ:ENVX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,346 shares of the company’s stock, valued at approximately $243,000.

Other institutional investors also recently modified their holdings of the company. Lpwm LLC bought a new stake in Enovix in the 4th quarter valued at about $549,000. Stifel Financial Corp boosted its stake in shares of Enovix by 6.2% in the third quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock valued at $8,875,000 after buying an additional 55,094 shares during the period. Haven Private LLC acquired a new stake in Enovix during the fourth quarter worth approximately $454,000. Register Financial Advisors LLC increased its stake in Enovix by 172.8% during the 4th quarter. Register Financial Advisors LLC now owns 174,850 shares of the company’s stock worth $1,901,000 after acquiring an additional 110,750 shares during the period. Finally, Amundi raised its holdings in Enovix by 360.8% in the 4th quarter. Amundi now owns 235,369 shares of the company’s stock valued at $2,558,000 after acquiring an additional 184,294 shares in the last quarter. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Performance

Shares of Enovix stock opened at $6.31 on Friday. The company’s 50 day moving average price is $9.46 and its two-hundred day moving average price is $9.96. The firm has a market capitalization of $1.21 billion, a P/E ratio of -4.35 and a beta of 1.93. Enovix Co. has a fifty-two week low of $5.69 and a fifty-two week high of $18.68. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. The company had revenue of $9.72 million for the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. On average, equities analysts forecast that Enovix Co. will post -1.01 earnings per share for the current fiscal year.

Insider Transactions at Enovix

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the sale, the chief executive officer now directly owns 2,045,301 shares of the company’s stock, valued at $19,123,564.35. The trade was a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 15.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research report on Thursday, February 20th. Craig Hallum dropped their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.30.

About Enovix

Enovix Corporation designs develops and manufactures silicon-anode 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.