Zazove Associates LLC Has $498,000 Holdings in Enovix Corporation $ENVX

Zazove Associates LLC decreased its position in shares of Enovix Corporation (NASDAQ:ENVX) by 60.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after selling 75,000 shares during the quarter. Zazove Associates LLC’s holdings in Enovix were worth $498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ieq Capital LLC bought a new position in Enovix in the first quarter valued at about $104,000. Vident Advisory LLC bought a new position in Enovix in the 1st quarter valued at approximately $188,000. Baird Financial Group Inc. raised its holdings in Enovix by 6.5% in the 1st quarter. Baird Financial Group Inc. now owns 582,313 shares of the company’s stock valued at $4,274,000 after buying an additional 35,649 shares during the last quarter. Electron Capital Partners LLC boosted its position in Enovix by 18.6% during the 1st quarter. Electron Capital Partners LLC now owns 6,712,763 shares of the company’s stock worth $49,272,000 after buying an additional 1,054,029 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Enovix by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock worth $722,000 after acquiring an additional 4,780 shares during the last quarter. Institutional investors own 50.92% of the company’s stock.

Enovix Trading Down 7.7%

NASDAQ ENVX opened at $7.63 on Monday. The stock has a market capitalization of $1.65 billion, a P/E ratio of -9.42 and a beta of 2.13. The business has a 50 day simple moving average of $9.08 and a 200 day simple moving average of $10.40. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.72 and a quick ratio of 9.47. Enovix Corporation has a one year low of $5.27 and a one year high of $16.49.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald dropped their price target on shares of Enovix from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. lowered their target price on Enovix from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Oppenheimer set a $24.00 price target on Enovix in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Enovix in a research report on Monday, December 22nd. Finally, Wall Street Zen lowered Enovix from a “hold” rating to a “sell” rating in a research note on Saturday, September 6th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.50.

Insider Transactions at Enovix

In other Enovix news, COO Ajay Marathe sold 120,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $12.01, for a total value of $1,441,200.00. Following the completion of the sale, the chief operating officer directly owned 1,027,259 shares in the company, valued at approximately $12,337,380.59. This trade represents a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.10% of the stock is currently owned by corporate insiders.

Enovix 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.