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 7.17% having worth around $133.1 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 2.07% of the stake.
Enovix Corporation (ENVX) concluded trading on 01/10/24 at a closing price of $11.55, with 4.8 million shares of worth about $55.47 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -42.37% during that period and on Wednesday the price saw a loss of about -6.33%. Currently the company’s common shares owned by public are about 157.46M shares, out of which, 136.72M 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 84 times over the past 12 months. They bought 3,307,798 shares in 36 of the transactions. In 48 selling transactions, insiders dumped 296,219 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Enovix Corporation Vanguard Total Stock Market ETF is currently holding 4.09 million shares of worth totaling $45.26 million. The company recently came buying 6561.0 shares which brought its stake up to 2.44% of the company’s outstanding shares. iShares Russell 2000 ETF bought 1635.0 shares, after which its hold over company’s outstanding shares expand to 1.98%, leaving 3.32 million shares with the mutual fund that have a worth of about $36.79 million. Vanguard Small Cap Index Fund, after buying 3.31 million shares, have now control over 1.98% of the stake in the company. It holds 10175.0 shares of worth $36.7 million.
Enovix Corporation (NASDAQ: ENVX) started trading at $12.28, below -$0.05 from concluding price of the previous day. However, the stock later moved at a day high price of 12.40, or with a loss of -6.33%. Stock saw a price change of -1.45% in past 5 days and over the past one month there was a price change of -1.79%. Year-to-date (YTD), ENVX shares are showing a performance of -7.75% which increased to 38.82% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.55 but also hit the highest price of $23.90 during that period. The average intraday trading volume for Enovix Corporation shares is 4.28 million. The stock is currently trading -10.87% below its 20-day simple moving average (SMA20), while that difference is down -1.22% for SMA50 and it goes to -14.77% lower than SMA200.
The Vanguard Group, Inc. acquired 12.02 million shares of Enovix Corporation having value of about $133.1 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 $12164517.75, 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 50.97% of that. Holding of mutual funds in the company is about 27.96% while other institutional holders and individual stake holders have control over 31.07% and 20.32% of the stake respectively.
The stock has a current market capitalization of $1.94B 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 7.03% while standing at 5.94% over the month.
Analysts are in expectations that Enovix Corporation (ENVX) stock would likely to be making an EPS of -$0.26 in the current quarter, while forecast for next quarter EPS is -$0.24 and it is -$0.9 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.34 which is -$0.19 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 -$0.19 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -58.51% while it is estimated to increase by 0.54% in next year.
Analysts at 13 brokerage firms have issued recommendations for the Enovix Corporation (ENVX)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.15. Out of those 13 Wall Street analysts, 12 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
