Nisa Investment Advisors LLC Has $814,000 Stake in Enovix Co. (NASDAQ:ENVX)

Nisa Investment Advisors LLC reduced its stake in Enovix Co. (NASDAQ:ENVX) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,005 shares of the company’s stock after selling 2,576 shares during the period. Nisa Investment Advisors LLC’s holdings in Enovix were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Enovix by 9.5% in the third quarter. Vanguard Group Inc. now owns 12,415,485 shares of the company’s stock valued at $155,814,000 after buying an additional 1,072,508 shares during the period. Raymond James & Associates boosted its stake 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 buying an additional 167,647 shares during the period. Udine Wealth Management Inc. bought a new stake in shares of Enovix in the fourth quarter valued at approximately $1,687,000. tru Independence LLC bought a new stake in shares of Enovix in the third quarter valued at approximately $3,745,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Enovix in the third quarter valued at approximately $1,167,000. 50.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction that occurred 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 directly owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 17.30% of the stock is owned by insiders.

Enovix Stock Up 2.8 %

NASDAQ ENVX opened at $6.89 on Wednesday. Enovix Co. has a fifty-two week low of $6.64 and a fifty-two week high of $23.90. The stock has a market capitalization of $1.16 billion, a PE ratio of -4.50 and a beta of 1.62. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15. The business has a fifty day moving average price of $9.02 and a two-hundred day moving average price of $10.35.

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

Analyst Upgrades and Downgrades

ENVX has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Wednesday, February 21st. Canaccord Genuity Group restated a “buy” rating and set a $17.00 target price on shares of Enovix in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

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.