Bank of America Corp DE Purchases New Holdings in Enovix Corporation $ENVX

Key Points

• Bank of America acquired 1.38 million Enovix shares worth approximately $8.36 million in the second quarter, giving it a 0.63% stake. Institutional investors collectively own 50.92% of ENVX.
• Analyst sentiment is mixed but leans positive, with Enovix carrying a “Moderate Buy” consensus rating and an average price target of $11.77; individual targets range from $5.00 to $25.00.
• Enovix shares opened at $2.89, near their 52-week low of $2.79. The company exceeded quarterly revenue and EPS estimates, reporting $9.02 million in revenue and a $0.13 per-share loss, though it continues to post substantial negative margins.

Bank of America Corp DE purchased a new position in Enovix Corporation (NASDAQ:ENVX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,376,635 shares of the company's stock, valued at approximately $8,356,000. Bank of America Corp DE owned 0.63% of Enovix at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ENVX. Caitong International Asset Management Co. Ltd purchased a new position in shares of Enovix during the fourth quarter valued at about $30,000. Calamos Advisors LLC bought a new position in Enovix in the 1st quarter valued at $60,000. Gateway Wealth Partners LLC bought a new position in Enovix in the 1st quarter valued at $68,000. Wealthfront Advisers LLC increased its stake in Enovix by 27.8% in the first quarter. Wealthfront Advisers LLC now owns 13,800 shares of the company's stock worth $71,000 after purchasing an additional 3,001 shares during the period. Finally, Allworth Financial LP purchased a new stake in Enovix in the second quarter worth $71,000. 50.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ENVX. Wall Street Zen raised shares of Enovix from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 12th. Craig Hallum set a $7.00 price objective on shares of Enovix in a research report on Thursday, August 13th. Cantor Fitzgerald restated an "overweight" rating and issued a $25.00 target price on shares of Enovix in a research note on Thursday, August 13th. Bank of America reaffirmed a "neutral" rating and set a $5.00 target price on shares of Enovix in a research report on Monday, August 17th. Finally, TD Cowen dropped their price objective on Enovix from $7.00 to $5.50 and set a "hold" rating on the stock in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.77.

Enovix Price Performance

Shares of ENVX opened at $2.89 on Friday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 9.37 and a current ratio of 9.71. The company has a 50 day moving average price of $3.68 and a 200-day moving average price of $5.27. Enovix Corporation has a fifty-two week low of $2.79 and a fifty-two week high of $14.21. The stock has a market capitalization of $634.21 million, a PE ratio of -3.57 and a beta of 2.31.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02. The company had revenue of $9.02 million during the quarter, compared to the consensus estimate of $8.43 million. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. Enovix's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170--0.130 EPS. Equities analysts predict that Enovix Corporation will post -0.8 earnings per share for the current fiscal year.

Enovix Profile

Enovix Corporation NASDAQ: ENVX is a battery technology company developing lithium-ion batteries with silicon-anode materials and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while maintaining safety and durability for applications that require compact, high-performance energy storage.

The company's battery platform incorporates a silicon anode, a stainless-steel constraint system and its BrakeFlow technology, which is designed to help prevent thermal runaway from spreading within a battery pack.

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