Enovix Corporation $ENVX Stock Sold by CenterBook Partners LP

CenterBook Partners LP reduced its holdings in shares of Enovix Corporation (NASDAQ:ENVX) by 84.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 313,082 shares of the company’s stock after selling 1,728,837 shares during the quarter. CenterBook Partners LP owned approximately 0.14% of Enovix worth $908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Oppenheimer & Co. Inc. boosted its holdings in Enovix by 58.0% during the third quarter. Oppenheimer & Co. Inc. now owns 454,446 shares of the company’s stock worth $1,318,000 after purchasing an additional 166,892 shares during the last quarter. Sowell Financial Services LLC boosted its stake in shares of Enovix by 144.1% during the 3rd quarter. Sowell Financial Services LLC now owns 128,995 shares of the company’s stock worth $374,000 after buying an additional 76,150 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Enovix by 96.0% during the 3rd quarter. Inspire Investing LLC now owns 219,586 shares of the company’s stock worth $637,000 after buying an additional 107,563 shares during the last quarter. Parkside Investments LLC grew its holdings in shares of Enovix by 12.0% in the 3rd quarter. Parkside Investments LLC now owns 308,482 shares of the company’s stock valued at $895,000 after acquiring an additional 32,943 shares in the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in shares of Enovix by 52.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 64,809 shares of the company’s stock valued at $188,000 after acquiring an additional 22,318 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on ENVX. Northland Securities set a $5.00 target price on Enovix in a research report on Tuesday, October 13th. Bank of America reissued a “neutral” rating and set a $5.00 price target on shares of Enovix in a research report on Monday, August 17th. William Blair downgraded Enovix from an “outperform” rating to a “market perform” rating in a research note on Monday, August 17th. Loop Capital raised Enovix to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price objective on shares of Enovix in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.77.

Enovix Stock Performance

Shares of ENVX opened at $2.64 on Wednesday. The firm has a 50-day moving average of $2.87 and a 200-day moving average of $4.99. Enovix Corporation has a one year low of $2.19 and a one year high of $9.19. The company has a market cap of $579.35 million, a PE ratio of -3.26 and a beta of 2.34. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37.

Enovix’s stock is scheduled to split on the morning of Friday, November 13th. The 5-4 split was recently announced. The newly created shares will be issued to shareholders after the closing bell on Thursday, November 12th.

Enovix (NASDAQ:ENVX) last issued its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $9.02 million for the quarter, compared to analysts’ expectations of $8.43 million. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. Enovix’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) EPS. As a group, equities analysts forecast that Enovix Corporation will post -0.79 earnings per share for the current year.

About Enovix

Enovix Corporation develops lithium-ion batteries using a silicon-based anode and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while addressing safety and performance requirements in compact devices. The company’s batteries are designed for applications including smartphones, wearable devices, laptops, augmented- and virtual-reality products, and other portable electronics. Enovix also targets markets such as defense and industrial technology.