Deutsche Bank AG Has $1.53 Million Position in Enovix Co. (NASDAQ:ENVX)

Deutsche Bank AG lifted its stake in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 44.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,606 shares of the company's stock after acquiring an additional 43,498 shares during the quarter. Deutsche Bank AG owned 0.08% of Enovix worth $1,528,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ENVX. Vanguard Group Inc. lifted its holdings in shares of Enovix by 15.1% during the fourth quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock valued at $171,458,000 after purchasing an additional 2,063,631 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Enovix during the 4th quarter worth about $3,484,000. Geode Capital Management LLC lifted its stake in Enovix by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company's stock valued at $41,520,000 after buying an additional 235,142 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Enovix by 16.2% in the fourth quarter. Northern Trust Corp now owns 1,519,960 shares of the company's stock worth $16,522,000 after buying an additional 211,959 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Enovix by 376.9% in the third quarter. Barclays PLC now owns 252,012 shares of the company's stock worth $2,353,000 after buying an additional 199,166 shares during the period. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ENVX. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price target on shares of Enovix in a report on Thursday, February 20th. Benchmark cut their target price on shares of Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Craig Hallum reduced their target price on Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 20th. JPMorgan Chase & Co. decreased their target price on Enovix from $10.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, B. Riley dropped their price target on Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.27.

Enovix Stock Down 2.8%

Shares of NASDAQ:ENVX traded down $0.23 during midday trading on Thursday, hitting $8.07. 3,559,011 shares of the stock were exchanged, compared to its average volume of 5,975,123. The company has a market capitalization of $1.55 billion, a PE ratio of -5.57 and a beta of 1.99. Enovix Co. has a 52-week low of $5.27 and a 52-week high of $18.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The business's fifty day simple moving average is $6.94 and its two-hundred day simple moving average is $8.98.

Enovix Profile

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.