Enovix Corporation $ENVX Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its Enovix stake by 95.2% in the second quarter, selling 1.11 million shares and retaining 56,200 shares valued at approximately $341,000. Institutional investors collectively own 50.92% of ENVX.
• Enovix reported quarterly revenue of $9.02 million, up 20.8% year over year, and an adjusted loss of $0.13 per share, beating analysts’ expectations. However, the company remains deeply unprofitable, with a negative net margin of 473.89%.
• ENVX recently traded at $3.38, near its 52-week low of $3.06. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $11.77, though ratings range from “Strong Buy” to “Sell.”

Handelsbanken Fonder AB trimmed its holdings in Enovix Corporation (NASDAQ:ENVX - Free Report) by 95.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 56,200 shares of the company's stock after selling 1,106,493 shares during the period. Handelsbanken Fonder AB's holdings in Enovix were worth $341,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ENVX. Caitong International Asset Management Co. Ltd purchased a new position in shares of Enovix in the 4th quarter valued at $30,000. Parallel Advisors LLC increased its position in Enovix by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company's stock valued at $39,000 after acquiring an additional 1,342 shares during the period. CWM LLC increased its position in Enovix by 95.4% in the 4th quarter. CWM LLC now owns 6,081 shares of the company's stock valued at $44,000 after acquiring an additional 2,969 shares during the period. Calamos Advisors LLC purchased a new stake in Enovix during the 1st quarter valued at approximately $60,000. Finally, Gateway Wealth Partners LLC purchased a new stake in Enovix during the 1st quarter valued at approximately $68,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Stock Up 3.4%

Enovix stock opened at $3.38 on Friday. The company's 50-day moving average price is $4.99 and its two-hundred day moving average price is $5.74. The stock has a market cap of $741.74 million, a price-to-earnings ratio of -4.17 and a beta of 2.32. Enovix Corporation has a 52 week low of $3.06 and a 52 week high of $14.21. The company has a current ratio of 9.71, a quick ratio of 9.37 and a debt-to-equity ratio of 2.46.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share 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 firm had revenue of $9.02 million during the quarter, compared to analysts' expectations of $8.43 million. During the same period last year, the firm posted ($0.13) earnings per share. The firm'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, analysts expect that Enovix Corporation will post -0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ENVX has been the subject of a number of analyst reports. Loop Capital raised Enovix to a "strong-buy" rating in a research note on Monday, August 17th. Craig Hallum set a $7.00 target price on Enovix in a report on Thursday, August 13th. Wall Street Zen downgraded Enovix from a "sell" rating to a "strong sell" rating in a research report on Saturday. B. Riley Financial cut their target price on shares of Enovix from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. Finally, Bank of America reaffirmed a "neutral" rating and set a $5.00 price target on shares of Enovix in a research report on Monday. 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.77.

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.

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