Enovix Corporation (NASDAQ:ENVX - Get Free Report) shares were down 4.6% during mid-day trading on Tuesday . The stock traded as low as $9.70 and last traded at $9.86. Approximately 1,779,721 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 5,775,853 shares. The stock had previously closed at $10.34.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Benchmark reduced their price objective on shares of Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. B. Riley dropped their target price on Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. dropped their price objective on Enovix from $10.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, TD Securities decreased their target price on Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Enovix presently has a consensus rating of "Moderate Buy" and an average price target of $17.27.
View Our Latest Stock Analysis on Enovix
Enovix Trading Up 9.7%
The company has a current ratio of 4.68, a quick ratio of 4.49 and a debt-to-equity ratio of 0.71. The business has a 50 day simple moving average of $7.88 and a two-hundred day simple moving average of $8.89. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -8.63 and a beta of 2.08.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENVX. Coppell Advisory Solutions LLC bought a new position in Enovix in the 4th quarter worth approximately $27,000. Sava Infond d.o.o. acquired a new position in shares of Enovix during the fourth quarter valued at $43,000. Stone House Investment Management LLC acquired a new stake in Enovix in the first quarter worth about $37,000. Hollencrest Capital Management grew its position in Enovix by 61.4% in the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock valued at $57,000 after buying an additional 2,000 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in Enovix in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 50.92% of the company's stock.
Enovix Company Profile
(
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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