Choreo LLC Grows Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Choreo LLC grew its stake in Enovix Co. (NASDAQ:ENVX) by 17.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,470 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Choreo LLC’s holdings in Enovix were worth $169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in Enovix by 106.4% in the 3rd quarter. SG Americas Securities LLC now owns 17,953 shares of the company’s stock valued at $225,000 after buying an additional 9,253 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Enovix by 37.2% during the third quarter. Commonwealth Equity Services LLC now owns 57,245 shares of the company’s stock worth $718,000 after purchasing an additional 15,532 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Enovix by 10.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 32,833 shares of the company’s stock worth $412,000 after purchasing an additional 3,005 shares during the period. Raymond James & Associates grew its stake in shares of Enovix by 73.9% in the 3rd 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. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Enovix by 27.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 35,403 shares of the company’s stock worth $444,000 after buying an additional 7,604 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insider Buying and Selling

In other Enovix 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 sale, the chief operating officer now owns 978,913 shares of the company’s stock, valued at approximately $7,155,854.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

ENVX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on Enovix from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. William Blair reiterated an “outperform” rating on shares of Enovix in a report on Thursday. Craig Hallum reduced their price objective on shares of Enovix from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 target price on shares of Enovix in a research note on Wednesday, February 21st. Finally, B. Riley reduced their price target on shares of Enovix from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enovix currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

Enovix Trading Up 6.5 %

Shares of ENVX opened at $10.09 on Friday. 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 company’s 50-day simple moving average is $7.88 and its 200-day simple moving average is $10.01. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $23.90.

Enovix (NASDAQ:ENVX) last released 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). The business had revenue of $7.38 million for the quarter, compared to analyst estimates of $3.37 million. Enovix had a negative return on equity of 83.66% and a negative net margin of 1,448.90%. On average, research analysts forecast that Enovix Co. will post -1.13 EPS for the current 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.