L & S Advisors Inc Has $2.53 Million Stake in Enovix Corporation $ENVX

L & S Advisors Inc grew its holdings in Enovix Corporation (NASDAQ:ENVX) by 27.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 245,028 shares of the company’s stock after purchasing an additional 53,053 shares during the quarter. L & S Advisors Inc owned about 0.12% of Enovix worth $2,534,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in shares of Enovix during the first quarter valued at about $171,000. Bank of New York Mellon Corp increased its stake in Enovix by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 504,179 shares of the company’s stock valued at $3,701,000 after acquiring an additional 2,640 shares during the period. Envestnet Asset Management Inc. raised its holdings in Enovix by 54.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 178,578 shares of the company’s stock valued at $1,311,000 after acquiring an additional 62,734 shares in the last quarter. Arizona State Retirement System raised its holdings in Enovix by 5.4% in the 1st quarter. Arizona State Retirement System now owns 45,810 shares of the company’s stock valued at $336,000 after acquiring an additional 2,346 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Enovix by 26.1% in the 1st quarter. New York State Common Retirement Fund now owns 51,769 shares of the company’s stock worth $380,000 after acquiring an additional 10,700 shares during the period. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Trading Down 3.2%

Shares of ENVX stock opened at $8.08 on Friday. The company has a market capitalization of $1.74 billion, a P/E ratio of -9.98 and a beta of 2.09. Enovix Corporation has a 12-month low of $5.27 and a 12-month high of $16.49. The company has a quick ratio of 9.47, a current ratio of 9.72 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average price of $10.75 and a 200 day moving average price of $10.26.

Enovix (NASDAQ:ENVX) last posted its earnings results on Tuesday, September 9th. The company reported ($0.13) earnings per share (EPS) for the quarter. The firm had revenue of $7.47 million during the quarter. Enovix had a negative net margin of 525.93% and a negative return on equity of 61.78%. Research analysts forecast that Enovix Corporation will post -1.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ENVX has been the topic of a number of research reports. Cantor Fitzgerald lowered their price objective on Enovix from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Benchmark lifted their price target on shares of Enovix from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. dropped their price objective on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday. Wall Street Zen downgraded shares of Enovix from a “hold” rating to a “sell” rating in a report on Saturday, September 6th. Finally, Canaccord Genuity Group lowered their target price on shares of Enovix from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Enovix currently has an average rating of “Hold” and a consensus price target of $17.67.

Insider Buying and Selling

In other news, COO Ajay Marathe sold 120,000 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $12.01, for a total transaction of $1,441,200.00. Following the sale, the chief operating officer owned 1,027,259 shares in the company, valued at approximately $12,337,380.59. This represents a 10.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 14.10% of the company’s stock.

Enovix 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.