Matisse Capital Purchases New Shares in Enovix Co. (NASDAQ:ENVX)

Matisse Capital bought a new stake in Enovix Co. (NASDAQ:ENVX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 15,800 shares of the company’s stock, valued at approximately $172,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Enovix by 5.4% in the third quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock valued at $33,477,000 after acquiring an additional 182,757 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Enovix by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,052 shares of the company’s stock valued at $11,479,000 after purchasing an additional 73,320 shares during the period. Stifel Financial Corp increased its stake in Enovix by 6.2% during the 3rd quarter. Stifel Financial Corp now owns 950,202 shares of the company’s stock worth $8,875,000 after purchasing an additional 55,094 shares in the last quarter. Old West Investment Management LLC raised its holdings in Enovix by 12.3% during the 3rd quarter. Old West Investment Management LLC now owns 937,838 shares of the company’s stock worth $8,759,000 after buying an additional 102,452 shares during the period. Finally, Fred Alger Management LLC lifted its stake in Enovix by 2,468.6% in the third quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock valued at $5,498,000 after buying an additional 565,698 shares in the last quarter. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Performance

Shares of ENVX stock opened at $11.84 on Tuesday. The business has a 50-day moving average price of $10.63 and a two-hundred day moving average price of $10.52. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99.

Analysts Set New Price Targets

Several research analysts recently commented on ENVX shares. JPMorgan Chase & Co. reduced their price target on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of Enovix in a report on Wednesday, October 30th. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Two 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

Insider Transactions at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total transaction of $729,750.00. Following the completion of the transaction, the director now directly owns 99,497 shares in the company, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.