Enovix (NASDAQ:ENVX) CAO Kristina Truong Sells 2,296 Shares

Enovix Corporation (NASDAQ:ENVX) CAO Kristina Truong sold 2,296 shares of Enovix stock in a transaction dated Thursday, January 1st. The shares were sold at an average price of $7.31, for a total value of $16,783.76. Following the transaction, the chief accounting officer owned 196,748 shares of the company’s stock, valued at $1,438,227.88. The trade was a 1.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Enovix Price Performance

Shares of ENVX stock traded up $0.84 during mid-day trading on Monday, hitting $8.73. 7,763,949 shares of the stock were exchanged, compared to its average volume of 5,481,532. The company has a market cap of $1.88 billion, a PE ratio of -10.78 and a beta of 2.13. The firm has a fifty day moving average of $8.58 and a 200 day moving average of $10.36. The company has a quick ratio of 9.47, a current ratio of 9.72 and a debt-to-equity ratio of 1.74. Enovix Corporation has a 52-week low of $5.27 and a 52-week high of $16.49.

Enovix (NASDAQ:ENVX) last announced its earnings results on Tuesday, September 9th. The company reported ($0.13) earnings per share (EPS) for the quarter. Enovix had a negative net margin of 525.93% and a negative return on equity of 61.78%. The company had revenue of $7.47 million during the quarter. Research analysts anticipate that Enovix Corporation will post -1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ENVX has been the subject of a number of research reports. Oppenheimer set a $24.00 price objective on Enovix in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enovix in a research note on Monday, December 29th. Canaccord Genuity Group lowered their price objective on Enovix from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. cut their price target on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Finally, Northland Securities set a $16.00 price objective on Enovix in a research note on Monday, November 17th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.50.

Institutional Investors Weigh In On Enovix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitlin John LLC purchased a new stake in Enovix during the third quarter worth approximately $27,000. Parallel Advisors LLC lifted its stake in Enovix by 51.9% during the third quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock worth $39,000 after purchasing an additional 1,342 shares during the last quarter. Stone House Investment Management LLC grew its position in shares of Enovix by 56.4% during the 3rd quarter. Stone House Investment Management LLC now owns 7,922 shares of the company’s stock valued at $79,000 after buying an additional 2,857 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Enovix during the 3rd quarter worth approximately $80,000. Finally, Integrity Alliance LLC. bought a new stake in Enovix in the first quarter valued at $98,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Company Profile

Enovix Corporation (NASDAQ: ENVX) develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.

Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.