DDD Partners LLC Sells 5,247 Shares of Enovix Co. (NASDAQ:ENVX)

DDD Partners LLC trimmed its position in Enovix Co. (NASDAQ:ENVX) by 15.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,697 shares of the company’s stock after selling 5,247 shares during the quarter. DDD Partners LLC’s holdings in Enovix were worth $323,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of Enovix by 4.1% during the 4th quarter. Rhumbline Advisers now owns 219,070 shares of the company’s stock worth $2,381,000 after acquiring an additional 8,564 shares in the last quarter. Matisse Capital purchased a new stake in Enovix during the fourth quarter valued at $172,000. Hodges Capital Management Inc. lifted its position in Enovix by 1.8% during the fourth quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company’s stock valued at $625,000 after purchasing an additional 1,000 shares during the last quarter. PBMares Wealth Management LLC grew its stake in shares of Enovix by 2.6% in the 4th quarter. PBMares Wealth Management LLC now owns 80,000 shares of the company’s stock worth $870,000 after buying an additional 2,000 shares in the last quarter. Finally, Caprock Group LLC bought a new stake in shares of Enovix in the 4th quarter worth about $284,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENVX has been the subject of several recent research reports. Janney Montgomery Scott lowered Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their target price on Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Enovix in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.50.

Insider Buying and Selling at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total transaction of $729,750.00. Following the completion of the sale, the director now owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 15.70% of the stock is owned by corporate insiders.

Enovix Stock Up 3.9 %

Shares of ENVX opened at $11.45 on Monday. The firm has a fifty day moving average price of $10.96 and a 200-day moving average price of $10.29. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $18.68.

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.