Dynamic Advisor Solutions LLC Purchases Shares of 14,250 Enovix Co. (NASDAQ:ENVX)

Dynamic Advisor Solutions LLC acquired a new position in shares of Enovix Co. (NASDAQ:ENVX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 14,250 shares of the company’s stock, valued at approximately $155,000.

Several other institutional investors have also recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new position in Enovix during the second quarter worth $163,000. Sei Investments Co. purchased a new stake in Enovix during the 2nd quarter worth about $555,000. The Manufacturers Life Insurance Company raised its stake in Enovix by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 85,403 shares of the company’s stock valued at $1,320,000 after purchasing an additional 6,484 shares during the last quarter. Algert Global LLC purchased a new position in Enovix in the 2nd quarter valued at about $223,000. Finally, Creative Planning boosted its stake in shares of Enovix by 53.7% during the 2nd quarter. Creative Planning now owns 33,084 shares of the company’s stock worth $511,000 after purchasing an additional 11,554 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ENVX shares. Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of Enovix in a research note on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Finally, Janney Montgomery Scott lowered 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. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Enovix Stock Performance

Shares of NASDAQ:ENVX opened at $11.37 on Wednesday. The business has a 50-day moving average of $10.40 and a two-hundred day moving average of $10.67. The firm has a market capitalization of $2.02 billion, a PE ratio of -7.06 and a beta of 1.86. 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 Co. has a 12 month low of $5.70 and a 12 month high of $18.68.

Enovix (NASDAQ:ENVX) last posted its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. The firm had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same quarter in the prior year, the company earned ($0.27) EPS. As a group, research analysts forecast that Enovix Co. will post -1.17 earnings per share for the current year.

Insider Transactions at Enovix

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the transaction, the director now owns 99,497 shares in the company, valued at $968,105.81. The trade was 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. Company insiders own 15.70% of the company’s stock.

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.