Fox Run Management L.L.C. Invests $234,000 in Enovix Corporation $ENVX

Fox Run Management L.L.C. bought a new stake in Enovix Corporation (NASDAQ:ENVX) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 22,630 shares of the company’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently added to or reduced their stakes in ENVX. Axim Planning & Wealth increased its holdings in Enovix by 29.4% in the second quarter. Axim Planning & Wealth now owns 24,552 shares of the company’s stock valued at $254,000 after buying an additional 5,571 shares in the last quarter. Claro Advisors LLC purchased a new stake in shares of Enovix during the 2nd quarter worth about $649,000. Corton Capital Inc. grew its position in shares of Enovix by 46.9% during the 2nd quarter. Corton Capital Inc. now owns 19,382 shares of the company’s stock valued at $200,000 after acquiring an additional 6,186 shares during the period. Intellectus Partners LLC increased its stake in shares of Enovix by 1.2% in the 2nd quarter. Intellectus Partners LLC now owns 103,522 shares of the company’s stock valued at $1,070,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Haven Private LLC raised its holdings in Enovix by 16.4% in the 2nd quarter. Haven Private LLC now owns 55,175 shares of the company’s stock worth $571,000 after purchasing an additional 7,792 shares during the period. 50.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ENVX. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovix in a report on Friday, October 31st. JPMorgan Chase & Co. dropped their price target on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday. Canaccord Genuity Group cut their price target on shares of Enovix from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Wall Street Zen downgraded shares of Enovix from a “hold” rating to a “sell” rating in a report on Saturday, September 6th. Finally, Oppenheimer set a $24.00 target price on shares of Enovix in a research note on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Enovix currently has a consensus rating of “Hold” and a consensus price target of $17.67.

Insider Transactions at Enovix

In related news, COO Ajay Marathe sold 18,614 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $13.00, for a total transaction of $241,982.00. Following the completion of the sale, the chief operating officer owned 1,002,684 shares of the company’s stock, valued at approximately $13,034,892. This represents a 1.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.10% of the company’s stock.

Enovix Stock Down 3.2%

NASDAQ ENVX opened at $8.08 on Friday. The business has a fifty day moving average price of $10.75 and a 200 day moving average price of $10.26. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.47 and a current ratio of 9.72. The company has a market cap of $1.74 billion, a P/E ratio of -9.98 and a beta of 2.09. Enovix Corporation has a one year low of $5.27 and a one year high of $16.49.

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

About Enovix

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.