Cutter & CO Brokerage Inc. Purchases 6,450 Shares of Enovix Co. (NASDAQ:ENVX)

Cutter & CO Brokerage Inc. increased its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 35.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,688 shares of the company’s stock after purchasing an additional 6,450 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Enovix were worth $309,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in Enovix during the 3rd quarter worth $31,000. Beacon Capital Management LLC lifted its position in Enovix by 66.7% in the 4th quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. Carmel Capital Partners LLC bought a new position in Enovix during the 3rd quarter worth about $34,000. Cidel Asset Management Inc. bought a new stake in shares of Enovix in the third quarter valued at about $131,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Enovix during the 3rd quarter worth approximately $133,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Enovix

In other news, COO Ajay Marathe sold 4,954 shares of the stock in a transaction dated Sunday, April 14th. The stock was sold at an average price of $7.31, for a total value of $36,213.74. Following the completion of the sale, the chief operating officer now owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. 17.30% of the stock is owned by company insiders.

Enovix Stock Performance

Shares of ENVX stock traded down $0.03 on Wednesday, hitting $6.00. The company’s stock had a trading volume of 1,526,782 shares, compared to its average volume of 4,396,514. Enovix Co. has a fifty-two week low of $5.80 and a fifty-two week high of $23.90. The company has a debt-to-equity ratio of 0.65, a quick ratio of 5.15 and a current ratio of 5.30. The stock’s 50 day moving average is $8.53 and its 200-day moving average is $10.19. The company has a market capitalization of $1.01 billion, a PE ratio of -3.94 and a beta of 1.62.

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