Enovix Corporation (NASDAQ:ENVX - Get Free Report)'s stock price shot up 5.6% on Tuesday . The stock traded as high as $8.66 and last traded at $8.57. 1,046,833 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 5,871,169 shares. The stock had previously closed at $8.11.
Wall Street Analyst Weigh In
Several research firms recently weighed in on ENVX. JPMorgan Chase & Co. cut 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. B. Riley cut their price target on shares of Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Benchmark lowered their price objective on Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, TD Securities lowered their price objective on Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Enovix has an average rating of "Moderate Buy" and a consensus price target of $17.27.
Check Out Our Latest Analysis on ENVX
Enovix Trading Up 4.8%
The firm has a 50-day moving average price of $7.45 and a 200-day moving average price of $8.87. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.49 and a current ratio of 4.68. The stock has a market cap of $1.63 billion, a PE ratio of -6.59 and a beta of 2.00.
Hedge Funds Weigh In On Enovix
Large investors have recently modified their holdings of the stock. Coppell Advisory Solutions LLC purchased a new position in shares of Enovix in the 4th quarter worth about $27,000. Stone House Investment Management LLC purchased a new position in Enovix in the 1st quarter worth about $37,000. Sava Infond d.o.o. purchased a new position in Enovix in the 4th quarter worth about $43,000. Parallel Advisors LLC raised its position in Enovix by 103.8% in the 1st quarter. Parallel Advisors LLC now owns 7,557 shares of the company's stock worth $55,000 after buying an additional 3,849 shares during the last quarter. Finally, Hollencrest Capital Management raised its position in Enovix by 61.4% in the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock worth $57,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 50.92% of the company's stock.
About Enovix
(
Get Free Report)
Enovix 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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