Legacy Capital Group California Inc. Has $368,000 Holdings in Enovix Co. (NASDAQ:ENVX)

Legacy Capital Group California Inc. grew its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,841 shares of the company’s stock after acquiring an additional 5,819 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Enovix were worth $368,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ENVX. Lpwm LLC bought a new position in shares of Enovix in the 4th quarter valued at $549,000. Oppenheimer & Co. Inc. increased its holdings in Enovix by 52.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company’s stock worth $2,541,000 after purchasing an additional 93,303 shares in the last quarter. Stifel Financial Corp raised its position in 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 purchasing an additional 55,094 shares during the last quarter. Register Financial Advisors LLC boosted its stake in shares of Enovix by 172.8% during the fourth quarter. Register Financial Advisors LLC now owns 174,850 shares of the company’s stock valued at $1,901,000 after purchasing an additional 110,750 shares in the last quarter. Finally, Sonora Investment Management Group LLC grew its holdings in shares of Enovix by 10.1% during the fourth quarter. Sonora Investment Management Group LLC now owns 275,901 shares of the company’s stock worth $2,999,000 after purchasing an additional 25,271 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insider Activity at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the sale, the director now directly owns 99,497 shares of the company’s stock, valued at $968,105.81. This represents a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ENVX shares. Craig Hallum dropped their price target on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday. Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Janney Montgomery Scott downgraded Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Thursday. Two investment 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

Enovix Price Performance

ENVX stock opened at $10.72 on Friday. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. The stock has a market capitalization of $1.91 billion, a PE ratio of -7.39 and a beta of 1.87. The company’s 50-day moving average is $11.15 and its 200-day moving average is $10.30. 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, topping the consensus estimate of ($0.18) by $0.01. The firm had revenue of $9.72 million for the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. Equities research analysts expect that Enovix Co. will post -1.01 EPS for the current fiscal year.

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.