Intech Investment Management LLC Has $798,000 Holdings in Enovix Co. (NASDAQ:ENVX)

Intech Investment Management LLC grew its position in shares of Enovix Co. (NASDAQ:ENVX) by 74.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,439 shares of the company’s stock after purchasing an additional 31,286 shares during the quarter. Intech Investment Management LLC’s holdings in Enovix were worth $798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cibc World Markets Corp bought a new position in Enovix during the fourth quarter worth $167,000. SlateStone Wealth LLC acquired a new stake in Enovix during the 4th quarter worth about $112,000. Swiss National Bank raised its position in shares of Enovix by 4.7% in the 4th quarter. Swiss National Bank now owns 294,700 shares of the company’s stock worth $3,203,000 after acquiring an additional 13,100 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Enovix by 82.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 60,162 shares of the company’s stock valued at $654,000 after purchasing an additional 27,274 shares during the period. Finally, Hollencrest Capital Management boosted its position in shares of Enovix by 61.4% during the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock valued at $57,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Performance

Shares of ENVX stock opened at $8.45 on Monday. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $10.05. Enovix Co. has a 12 month low of $5.70 and a 12 month high of $18.68. The firm has a market capitalization of $1.62 billion, a PE ratio of -5.83 and a beta of 1.93.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The company had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Analysts forecast that Enovix Co. will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Craig Hallum lowered their target price on Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Insider Transactions at Enovix

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the sale, the chief executive officer now owns 2,045,301 shares in the company, valued at $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 15.70% of the company’s stock.

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.