Enovix Co. (NASDAQ:ENVX – Free Report) fell 3.3% on Friday. The company traded as low as $10.23 and was last seen at $10.31. During midday trading, 495,585 shares traded hands, a 91% decline from the average session volume of 5,492,223 shares. The stock had previously closed at $10.66.
Upgrades and downgrades by analysts
Several analysts have recently commented on the company. B. Riley upgraded Enovix to a “strong buy” rating in a research report on Tuesday, June 25th. William Blair reiterated an “outperform” rating on Enovix shares in a research note on Thursday, May 2nd. Piper Sandler reiterated an “overweight” rating and a $19.00 price target (previously $23.00) on Enovix shares in a research report on Monday, August 5th. JPMorgan Chase & Co. decreased their price target on Enovix shares from $18.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and a $30.00 price target on Enovix shares in a research report on Thursday, August 1. One research analyst has rated the stock with a “hold,” seven have given a “buy” recommendation, and one has given the stock a “strong buy” rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.50.
Get our latest report on Enovix
Enovix shares down 8.0%
The company’s 50 day moving average is $13.90 and its 200 day moving average is $10.72. The company has a liquidity ratio of 3.84, a current ratio of 3.98 and a debt-to-equity ratio of 0.97.
Insider transactions at Enovix
In related news, Director Gregory Reichow sold 7,500 shares of the company’s stock on Thursday, June 20. The shares were sold at an average price of $12.14, for a total transaction of $91,050.00. Following the sale, the director now owns 8,129 shares of the company’s stock, valued at approximately $98,686.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Company insiders own 17.30% of the company’s stock.
Institutional trading with Enovix
A number of hedge funds and other institutional investors have recently bought and sold shares of ENVX. Vanguard Group Inc. increased its stake in Enovix by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock valued at $104,881,000 after acquiring an additional 164,717 shares in the last quarter. Driehaus Capital Management LLC increased its stake in Enovix by 63.7% in the second quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock valued at $60,085,000 after acquiring an additional 1,512,424 shares in the last quarter. Electron Capital Partners LLC increased its stake in Enovix by 20.0% in the fourth quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company’s stock valued at $40,556,000 after buying an additional 540,399 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Enovix by 2,228.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock valued at $11,518,000 after buying an additional 1,376,253 shares in the last quarter. Finally, Masters Capital Management LLC increased its stake in shares of Enovix by 3.8% in the 1st quarter. Masters Capital Management LLC now owns 1,350,000 shares of the company’s stock valued at $10,814,000 after buying an additional 50,000 shares in the last quarter. Institutional investors own 50.92% of the company’s shares.
About Enovix
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Enovix Corporation designs, develops and manufactures lithium-ion batteries. The company serves the wearables and IoT, smartphones, laptops and tablets, industrial and medical, and electric vehicle industries. The company was founded in 2007 and is headquartered in Fremont, California.
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