Enovix Co. (NASDAQ:ENVX) COO Ajay Marathe Sells 4,954 Shares

Enovix Co. (NASDAQ:ENVX) COO Ajay Marathe sold 4,954 shares of the firm’s stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total value of $36,213.74. Following the transaction, the chief operating officer now owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Enovix Stock Performance

ENVX stock opened at $6.01 on Friday. The business has a 50 day moving average price of $8.87 and a 200 day moving average price of $10.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 5.15 and a current ratio of 5.30. Enovix Co. has a fifty-two week low of $5.86 and a fifty-two week high of $23.90.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $7.38 million for the quarter, compared to analysts’ expectations of $3.37 million. Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. As a group, research analysts predict that Enovix Co. will post -1.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovix

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Enovix by 9.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,415,485 shares of the company’s stock worth $155,814,000 after buying an additional 1,072,508 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Enovix by 73.9% in the third quarter. Raymond James & Associates now owns 394,396 shares of the company’s stock valued at $4,950,000 after acquiring an additional 167,647 shares during the period. Udine Wealth Management Inc. purchased a new position in shares of Enovix during the fourth quarter worth approximately $1,687,000. tru Independence LLC purchased a new stake in Enovix in the 3rd quarter valued at $3,745,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Enovix during the 3rd quarter worth $1,167,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ENVX. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of Enovix in a report on Wednesday, February 21st. Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price objective on shares of Enovix in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Enovix presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.29.

About Enovix

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.