P.A.W. Capital Corp Sells 10,000 Shares of Enovix Co. (NASDAQ:ENVX)

P.A.W. Capital Corp trimmed its holdings in Enovix Co. (NASDAQ:ENVX) by 7.7% in the 3rd quarter, Holdings Channel reports. The fund owned 120,000 shares of the company’s stock after selling 10,000 shares during the quarter. Enovix accounts for about 2.5% of P.A.W. Capital Corp’s investment portfolio, making the stock its 11th biggest position. P.A.W. Capital Corp’s holdings in Enovix were worth $1,121,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Enovix by 16.4% during the 1st quarter. Principal Financial Group Inc. now owns 18,645 shares of the company’s stock valued at $149,000 after purchasing an additional 2,633 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Enovix by 2,228.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock valued at $11,518,000 after purchasing an additional 1,376,253 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Enovix by 19.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 116,746 shares of the company’s stock valued at $935,000 after purchasing an additional 18,767 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Enovix during the 1st quarter valued at about $216,000. Finally, Clarity Capital Partners LLC increased its stake in Enovix by 5.0% during the 1st quarter. Clarity Capital Partners LLC now owns 137,818 shares of the company’s stock valued at $1,104,000 after purchasing an additional 6,578 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ENVX has been the topic of a number of recent analyst reports. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Enovix in a report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enovix in a report on Monday, August 26th. Benchmark reaffirmed a “buy” rating and set a $25.00 price target on shares of Enovix in a report on Wednesday. Finally, TD Cowen raised their price objective on shares of Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Enovix Price Performance

Shares of NASDAQ:ENVX opened at $9.04 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.98 and a quick ratio of 3.84. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. The company has a market capitalization of $1.59 billion, a P/E ratio of -5.61 and a beta of 1.98. The firm’s 50 day simple moving average is $10.03 and its two-hundred day simple moving average is $11.07.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 96.23%. The business had revenue of $4.30 million for the quarter, compared to the consensus estimate of $4.11 million. During the same quarter in the previous year, the firm earned ($0.27) earnings per share. Research analysts expect that Enovix Co. will post -1.2 EPS for the current fiscal year.

Insider Buying and Selling at Enovix

In other news, insider Arthi Chakravarthy sold 35,000 shares of Enovix stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $13.00, for a total transaction of $455,000.00. Following the sale, the insider now owns 343,305 shares in the company, valued at $4,462,965. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 15.70% of the company’s stock.

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.