Cutter & CO Brokerage Inc. Has $309,000 Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Cutter & CO Brokerage Inc. lifted its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 35.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,688 shares of the company’s stock after buying an additional 6,450 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Enovix were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ENVX. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Enovix by 17.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,805 shares of the company’s stock worth $348,000 after acquiring an additional 4,137 shares in the last quarter. Flputnam Investment Management Co. boosted its stake in shares of Enovix by 61.2% during the fourth quarter. Flputnam Investment Management Co. now owns 23,976 shares of the company’s stock valued at $300,000 after purchasing an additional 9,099 shares in the last quarter. AlphaQ Advisors LLC boosted its position in Enovix by 54.5% during the 4th quarter. AlphaQ Advisors LLC now owns 17,400 shares of the company’s stock worth $218,000 after buying an additional 6,135 shares during the period. Wealth Effects LLC grew its holdings in Enovix by 3.9% during the fourth quarter. Wealth Effects LLC now owns 101,750 shares of the company’s stock worth $1,274,000 after buying an additional 3,799 shares in the last quarter. Finally, WESPAC Advisors LLC grew its stake in shares of Enovix by 5.4% in the 4th quarter. WESPAC Advisors LLC now owns 39,080 shares of the company’s stock worth $489,000 after acquiring an additional 2,000 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ENVX shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a report on Wednesday, February 21st. Canaccord Genuity Group reissued a “buy” rating and issued a $17.00 target price on shares of Enovix in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Insider Buying and Selling

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the firm’s stock in a transaction dated Sunday, April 14th. The shares were sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of the transaction, the chief operating officer now directly owns 978,913 shares in the company, valued at approximately $7,155,854.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.30% of the stock is currently owned by corporate insiders.

Enovix Price Performance

Shares of NASDAQ:ENVX traded down $0.03 during midday trading 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. 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 business’s 50 day simple moving average is $8.53 and its 200 day simple moving average is $10.19. The company has a market cap of $1.01 billion, a P/E ratio of -3.94 and a beta of 1.62. Enovix Co. has a 12-month low of $5.80 and a 12-month 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 company had revenue of $7.38 million during the quarter, compared to analysts’ expectations of $3.37 million. Enovix had a negative net margin of 2,800.51% and a negative return on equity of 77.74%. On average, analysts forecast that Enovix Co. will post -1.13 EPS for the current year.

About Enovix

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.