Deutsche Bank AG Takes Position in Enovix Corporation $ENVX

Key Points

• Deutsche Bank acquired 550,710 Enovix shares worth approximately $3.34 million, while institutional investors collectively own 50.92% of the company.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $11.77, although several firms recently lowered their targets and William Blair downgraded the stock to “market perform.”
• Enovix reported quarterly revenue of $9.02 million, up 20.8% year over year, and an adjusted loss of $0.13 per share that beat estimates; however, the stock opened at $3.40, near its one-year low, amid continuing substantial losses.

Deutsche Bank AG purchased a new stake in Enovix Corporation (NASDAQ:ENVX - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 550,710 shares of the company's stock, valued at approximately $3,343,000. Deutsche Bank AG owned about 0.25% of Enovix at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Effects LLC purchased a new stake in Enovix during the second quarter valued at approximately $1,505,000. Cauble & Harre Wealth Management Inc. purchased a new position in shares of Enovix in the 4th quarter worth approximately $1,012,000. Vanguard Group Inc. increased its position in shares of Enovix by 10.9% during the 4th quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company's stock valued at $129,831,000 after purchasing an additional 1,747,145 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Enovix by 117.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 538,190 shares of the company's stock valued at $3,934,000 after purchasing an additional 290,916 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Enovix during the 4th quarter valued at $848,000. Hedge funds and other institutional investors own 50.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ENVX. B. Riley Financial lowered their price target on Enovix from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Oppenheimer reduced their target price on shares of Enovix from $24.00 to $21.00 and set an "outperform" rating on the stock in a research note on Thursday, May 14th. William Blair lowered shares of Enovix from an "outperform" rating to a "market perform" rating in a report on Monday, August 17th. Canaccord Genuity Group lowered their target price on shares of Enovix from $15.00 to $10.00 and set a "buy" rating for the company in a report on Friday, August 14th. Finally, Bank of America reaffirmed a "neutral" rating and set a $5.00 price target on shares of Enovix in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.77.

Enovix Trading Up 0.6%

Shares of ENVX opened at $3.40 on Thursday. The firm has a market capitalization of $746.13 million, a price-to-earnings ratio of -4.20 and a beta of 2.32. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37. Enovix Corporation has a 1-year low of $3.06 and a 1-year high of $14.21. The company has a 50-day moving average of $4.79 and a 200 day moving average of $5.67.

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

Enovix Profile

Enovix Corporation NASDAQ: ENVX develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.

Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.

Want to see what other hedge funds are holding ENVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enovix Corporation (NASDAQ:ENVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source