Fluent Financial LLC Makes New Investment in Enovix Co. (NASDAQ:ENVX)

Fluent Financial LLC bought a new stake in Enovix Co. (NASDAQ:ENVX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 67,821 shares of the company's stock, valued at approximately $737,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG grew its position in Enovix by 44.8% in the 4th quarter. Deutsche Bank AG now owns 140,606 shares of the company's stock worth $1,528,000 after purchasing an additional 43,498 shares during the last quarter. Vanguard Group Inc. grew its position in Enovix by 15.1% in the 4th quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock worth $171,458,000 after purchasing an additional 2,063,631 shares during the last quarter. Haven Private LLC acquired a new stake in Enovix in the 4th quarter worth $454,000. Register Financial Advisors LLC grew its position in Enovix by 172.8% in the 4th quarter. Register Financial Advisors LLC now owns 174,850 shares of the company's stock worth $1,901,000 after purchasing an additional 110,750 shares during the last quarter. Finally, Amundi grew its position in Enovix by 360.8% in the 4th quarter. Amundi now owns 235,369 shares of the company's stock worth $2,558,000 after purchasing an additional 184,294 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENVX has been the subject of a number of analyst reports. B. Riley reduced their price objective on shares of Enovix from $17.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. TD Securities reduced their price objective on shares of Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Craig Hallum reduced their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price objective on shares of Enovix in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.27.

Enovix Price Performance

ENVX stock traded down $0.46 during trading on Friday, hitting $7.61. 3,985,778 shares of the stock traded hands, compared to its average volume of 5,969,356. Enovix Co. has a one year low of $5.27 and a one year high of $18.68. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -5.25 and a beta of 1.99. The company has a 50 day simple moving average of $6.91 and a 200 day simple moving average of $8.97. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

Enovix Company 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.