Enovix Co. (NASDAQ:ENVX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.27.
Several research analysts have recently weighed in on the stock. Craig Hallum lowered their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. TD Securities dropped their price target on Enovix from $10.00 to $7.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Benchmark dropped their price objective on shares of Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, B. Riley lowered their price objective on Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th.
Get Our Latest Report on ENVX
Insider Activity at Enovix
In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. This trade represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.70% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its stake in shares of Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock valued at $27,000 after acquiring an additional 1,000 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in Enovix by 1.8% during the 4th quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company's stock worth $625,000 after buying an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC grew its position in shares of Enovix by 6.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company's stock valued at $228,000 after buying an additional 1,214 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Enovix by 6.8% in the fourth quarter. Victory Capital Management Inc. now owns 19,695 shares of the company's stock worth $214,000 after acquiring an additional 1,257 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Enovix by 6.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company's stock valued at $233,000 after acquiring an additional 1,336 shares during the last quarter. Institutional investors own 50.92% of the company's stock.
Enovix Stock Up 1.7 %
NASDAQ:ENVX traded up $0.11 on Tuesday, hitting $6.59. 4,075,403 shares of the company's stock were exchanged, compared to its average volume of 6,074,323. The company has a market cap of $1.27 billion, a P/E ratio of -4.54 and a beta of 1.99. The firm has a 50-day moving average price of $6.98 and a 200-day moving average price of $9.16. 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 has a 52 week low of $5.27 and a 52 week high of $18.68.
Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. The firm had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. As a group, analysts expect that Enovix will post -1.01 EPS for the current fiscal year.
Enovix Company Profile
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Get Free ReportEnovix 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.
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