S&CO Inc. Buys 6,000 Shares of Enovix Co. (NASDAQ:ENVX)

S&CO Inc. increased its stake in shares of Enovix Co. (NASDAQ:ENVX) by 42.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the company’s stock after acquiring an additional 6,000 shares during the quarter. S&CO Inc.’s holdings in Enovix were worth $186,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ENVX. Swiss National Bank raised its position in Enovix by 5.0% in the first quarter. Swiss National Bank now owns 281,600 shares of the company’s stock worth $2,256,000 after acquiring an additional 13,400 shares during the period. Avantax Advisory Services Inc. grew its stake in Enovix by 14.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 26,187 shares of the company’s stock worth $210,000 after buying an additional 3,384 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Enovix by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 24,915 shares of the company’s stock valued at $200,000 after purchasing an additional 1,960 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of Enovix in the 1st quarter valued at $268,000. Finally, Nwam LLC purchased a new stake in shares of Enovix in the 1st quarter valued at $93,000. 50.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Enovix

In other news, insider Arthi Chakravarthy sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the sale, the insider now owns 343,305 shares in the company, valued at approximately $4,462,965. This trade represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.70% of the stock is owned by corporate insiders.

Enovix Trading Down 4.2 %

Shares of ENVX opened at $8.48 on Friday. The stock has a 50-day simple moving average of $9.98 and a 200-day simple moving average of $11.29. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate 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 in the previous year, the company posted ($0.27) earnings per share. As a group, equities analysts forecast that Enovix Co. will post -1.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Benchmark reiterated a “buy” rating and set a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price target (down previously from $23.00) on shares of Enovix in a report on Monday, August 5th. Two equities research 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 stock. According to MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and an average target price of $20.50.

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.