Y Intercept Hong Kong Ltd Buys New Shares in Enovix Co. (NASDAQ:ENVX)

Y Intercept Hong Kong Ltd bought a new stake in Enovix Co. (NASDAQ:ENVX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 126,990 shares of the company’s stock, valued at approximately $1,380,000. Y Intercept Hong Kong Ltd owned 0.07% of Enovix as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lpwm LLC acquired a new position in Enovix in the fourth quarter valued at $549,000. Oppenheimer & Co. Inc. raised its holdings in shares of Enovix by 52.2% during the third quarter. Oppenheimer & Co. Inc. now owns 272,047 shares of the company’s stock valued at $2,541,000 after purchasing an additional 93,303 shares during the period. Stifel Financial Corp raised its holdings in shares of Enovix by 6.2% during 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 period. Register Financial Advisors LLC raised its holdings 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 during the period. Finally, Sonora Investment Management Group LLC raised 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 valued at $2,999,000 after purchasing an additional 25,271 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 75,000 shares of the 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 of the company’s stock, valued at $968,105.81. This represents a 42.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ENVX shares. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a report on Thursday, February 20th. Craig Hallum dropped their price objective on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Benchmark restated a “buy” rating and issued a $25.00 target price on shares of Enovix in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Enovix Trading Down 3.9 %

Shares of ENVX stock opened at $9.44 on Wednesday. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The company has a 50-day simple moving average of $11.19 and a two-hundred day simple moving average of $10.27. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -6.51 and a beta of 1.87.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Research analysts anticipate that Enovix Co. will post -1.01 EPS for the current fiscal year.

Enovix 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.