Enovix Co. (NASDAQ:ENVX - Get Free Report)'s share price was up 14% during mid-day trading on Monday . The stock traded as high as $7.54 and last traded at $7.50. Approximately 4,224,821 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 6,068,012 shares. The stock had previously closed at $6.58.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. B. Riley lowered their target price on shares of Enovix from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Craig Hallum decreased their price target on shares of Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Benchmark decreased their price target on shares of Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, TD Securities decreased their target price on shares of Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.27.
Get Our Latest Stock Report on Enovix
Enovix Trading Down 0.9%
The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -5.46 and a beta of 1.99. The business's 50 day simple moving average is $6.94 and its 200 day simple moving average is $9.11.
Enovix (NASDAQ:ENVX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01. The company had revenue of $9.72 million for the quarter, compared to analysts' expectations of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. Research analysts anticipate that Enovix Co. will post -1.01 EPS for the current year.
Insider Activity
In related news, CEO Rajendra K. Talluri sold 300,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.70% of the company's stock.
Institutional Trading of Enovix
A number of hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock worth $27,000 after acquiring an additional 1,000 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of Enovix by 1.8% during the 4th quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company's stock valued at $625,000 after acquiring an additional 1,000 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in Enovix by 6.2% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company's stock valued at $228,000 after acquiring an additional 1,214 shares in the last quarter. Victory Capital Management Inc. increased its stake in Enovix by 6.8% during the 4th quarter. Victory Capital Management Inc. now owns 19,695 shares of the company's stock worth $214,000 after buying an additional 1,257 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Enovix by 6.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company's stock worth $233,000 after buying an additional 1,336 shares during the period. Institutional investors and hedge funds 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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