Register Financial Advisors LLC Grows Position in Enovix Corporation (NASDAQ:ENVX)

Register Financial Advisors LLC lifted its stake in Enovix Corporation (NASDAQ:ENVX - Free Report) by 52.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,336 shares of the company's stock after acquiring an additional 91,486 shares during the quarter. Enovix accounts for about 1.0% of Register Financial Advisors LLC's investment portfolio, making the stock its 24th largest holding. Register Financial Advisors LLC owned 0.14% of Enovix worth $1,955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ENVX. Vanguard Group Inc. grew its stake in shares of Enovix by 15.1% in the fourth quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock worth $171,458,000 after acquiring an additional 2,063,631 shares during the period. Fred Alger Management LLC grew its stake in shares of Enovix by 212.4% in the fourth quarter. Fred Alger Management LLC now owns 1,838,914 shares of the company's stock worth $19,989,000 after acquiring an additional 1,250,300 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Enovix in the fourth quarter worth approximately $3,484,000. Frontier Capital Management Co. LLC bought a new stake in shares of Enovix in the fourth quarter worth approximately $3,397,000. Finally, Geode Capital Management LLC grew its stake in shares of Enovix by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company's stock worth $41,520,000 after acquiring an additional 235,142 shares during the period. 50.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ENVX has been the subject of several recent research reports. Benchmark cut their target price on shares of Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. B. Riley cut their target price on shares of Enovix from $17.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. TD Securities cut 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Enovix currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.27.

Enovix Price Performance

Shares of ENVX traded down $0.27 during mid-day trading on Friday, reaching $8.23. The stock had a trading volume of 3,559,207 shares, compared to its average volume of 5,900,978. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -6.38 and a beta of 2.00. Enovix Corporation has a 12 month low of $5.27 and a 12 month high of $18.68. The business has a fifty day moving average of $7.41 and a 200 day moving average of $8.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.49 and a current ratio of 4.68.

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.