The Vanguard Group, Inc. has recently announced that it has increased stake in Enovix Corporation (NASDAQ:ENVX) by 9.60%. After grabbing 12.02 million shares, the institutional investor is now in possession of 1.05 million shares of the Industrials Company. The new investment brought the stake of investor firm to 7.51% having worth around $107.13 million. Moreover, BlackRock Fund Advisors increased its share by 0.44 million to have a control over 8.16 million shares. And Driehaus Capital Management LLC raised its holdings to 1.26 million shares by acquiring 3.47 million shares or 2.17% of the stake.
Enovix Corporation (ENVX) concluded trading on 12/14/23 at a closing price of $14.02, with 8.38 million shares of worth about $117.48 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 2.86% during that period and on Thursday the price saw a gain of about 9.96%. Currently the company’s common shares owned by public are about 157.46M shares, out of which, 135.19M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 88 times over the past 12 months. They bought 3,307,798 shares in 36 of the transactions. In 52 selling transactions, insiders dumped 306,129 shares.
Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Enovix Corporation Vanguard Total Stock Market ETF is currently holding 4.08 million shares of worth totaling $36.37 million. The company recently came buying 8539.0 shares which brought its stake up to 2.55% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 1601.0 shares, after which its hold over company’s outstanding shares expand to 2.06%, leaving 3.3 million shares with the mutual fund that have a worth of about $29.44 million. iShares Russell 2000 ETF, after selling 3.18 million shares, have now control over 1.99% of the stake in the company. It holds 31978.0 shares of worth $28.36 million.
Stock saw a price change of 24.29% in past 5 days and over the past one month there was a price change of 24.96%. Year-to-date (YTD), ENVX shares are showing a performance of 12.70% which increased to 22.98% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.50 but also hit the highest price of $23.90 during that period. The average intraday trading volume for Enovix Corporation shares is 4.53 million. The stock is currently trading 21.49% above its 20-day simple moving average (SMA20), while that difference is up 30.91% for SMA50 and it goes to 5.29% higher than SMA200.
The Vanguard Group, Inc. acquired 12.02 million shares of Enovix Corporation having value of about $107.13 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.05 million shares in the company valued at close to $14765934.1, or have control over 9.60% stake in the company. Enovix Corporation (NASDAQ: ENVX) currently have 157.46M outstanding shares and institutions hold larger chunk of about 50.89% of that. Holding of mutual funds in the company is about 27.98% while other institutional holders and individual stake holders have control over 32.79% and 21.03% of the stake respectively.
The stock has a current market capitalization of $2.35B and its 3Y-monthly beta is at 1.72. It has posted earnings per share of -$1.45 in the same period. It has Quick Ratio of 8.51 while making debt-to-equity ratio of 0.69. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ENVX, volatility over the week remained 7.10% while standing at 6.27% over the month.
Analysts are in expectations that Enovix Corporation (ENVX) stock would likely to be making an EPS of $Envestnet, Inc in the current quarter, while forecast for next quarter EPS is $48.42 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Enova International, Inc. which is $NOVONIX Limited – American Depo at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Entera Bio Ltd. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -61.63% while it is estimated to increase by 2.38% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by TD Cowen on July 21, 2023 offering a Market perform rating for the stock and assigned a target price range of between $19 and $20 to it.
