Rockefeller Capital Management L.P. Boosts Stock Position in Enovix Co. (NASDAQ:ENVX)

Rockefeller Capital Management L.P. grew its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 107.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,000 shares of the company’s stock after purchasing an additional 23,344 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Enovix were worth $489,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp grew its position in Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after buying an additional 1,000 shares during the period. Sava Infond d.o.o. bought a new position in shares of Enovix during the 4th quarter valued at approximately $43,000. Hollencrest Capital Management increased its stake in shares of Enovix by 61.4% during the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock worth $57,000 after purchasing an additional 2,000 shares during the last quarter. R Squared Ltd bought a new stake in shares of Enovix in the 4th quarter worth approximately $64,000. Finally, Lee Danner & Bass Inc. purchased a new position in Enovix in the fourth quarter valued at approximately $65,000. 50.92% of the stock is currently owned by institutional investors.

Enovix Price Performance

Shares of NASDAQ:ENVX opened at $6.32 on Thursday. Enovix Co. has a 12 month low of $5.27 and a 12 month high of $18.68. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The stock has a market cap of $1.21 billion, a P/E ratio of -4.36 and a beta of 1.98. The company has a 50 day moving average of $7.82 and a 200 day moving average of $9.61.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. The firm had revenue of $9.72 million for the quarter, compared to analysts’ expectations of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. As a group, sell-side analysts forecast that Enovix Co. will post -1.01 EPS for the current fiscal year.

Insider Activity

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value of $2,805,000.00. Following the transaction, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Craig Hallum lowered their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Finally, Benchmark dropped their price objective on shares of Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.30.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.