Intellectus Partners LLC Has $751,000 Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Intellectus Partners LLC grew its position in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 84.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,322 shares of the company's stock after buying an additional 46,872 shares during the quarter. Intellectus Partners LLC owned approximately 0.05% of Enovix worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised 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. Fred Alger Management LLC boosted its stake in Enovix by 212.4% in the fourth quarter. Fred Alger Management LLC now owns 1,838,914 shares of the company's stock valued at $19,989,000 after acquiring an additional 1,250,300 shares during the last quarter. Raymond James Financial Inc. bought a new position in Enovix in the fourth quarter valued at approximately $3,484,000. Frontier Capital Management Co. LLC bought a new position in Enovix in the fourth quarter valued at approximately $3,397,000. Finally, Geode Capital Management LLC boosted its stake in Enovix by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company's stock valued at $41,520,000 after acquiring an additional 235,142 shares during the last quarter. 50.92% of the stock is owned by institutional investors.

Enovix Stock Up 0.3%

ENVX traded up $0.03 during trading on Tuesday, hitting $8.62. The company had a trading volume of 3,133,970 shares, compared to its average volume of 5,962,574. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. Enovix Co. has a one year low of $5.27 and a one year high of $18.68. The firm's 50-day moving average price is $7.01 and its 200 day moving average price is $8.94. The company has a market capitalization of $1.66 billion, a PE ratio of -5.94 and a beta of 2.00.

Analyst Ratings Changes

A number of equities analysts have issued reports on ENVX shares. Craig Hallum reduced their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Benchmark lowered their price objective 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. JPMorgan Chase & Co. lowered their price objective 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. B. Riley lowered their price objective 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. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price objective on shares of Enovix in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.27.

About Enovix

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.