Kingstone Capital Partners Texas LLC Purchases Shares of 1,277,168 Enovix Corporation $ENVX

Key Points

• Kingstone Capital Partners Texas LLC has acquired 1,277,168 shares of Enovix Corporation, valued at approximately $13.2 million, representing about 0.67% of the company's stock.
• Enovix reported $7.50 million in revenue for the latest quarter, exceeding analysts' expectations and marking a 98.2% year-over-year increase.
• Analysts have mixed ratings on Enovix, with a consensus rating of "Moderate Buy" and an average price target of $17.00 following various upgraded price targets from brokerage firms.

Kingstone Capital Partners Texas LLC purchased a new position in shares of Enovix Corporation (NASDAQ:ENVX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,277,168 shares of the company's stock, valued at approximately $13,206,000. Kingstone Capital Partners Texas LLC owned approximately 0.67% of Enovix at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in Enovix by 6.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company's stock worth $233,000 after purchasing an additional 1,336 shares during the last quarter. DDD Partners LLC boosted its position in Enovix by 5.9% in the first quarter. DDD Partners LLC now owns 31,461 shares of the company's stock worth $231,000 after purchasing an additional 1,764 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in Enovix by 6.7% in the first quarter. Harbor Investment Advisory LLC now owns 30,984 shares of the company's stock worth $227,000 after purchasing an additional 1,949 shares during the last quarter. Sava Infond d.o.o. boosted its position in Enovix by 50.0% in the first quarter. Sava Infond d.o.o. now owns 6,000 shares of the company's stock worth $44,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Enovix by 5.4% in the first quarter. Arizona State Retirement System now owns 45,810 shares of the company's stock worth $336,000 after purchasing an additional 2,346 shares during the last quarter. Institutional investors own 50.92% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ENVX shares. Cowen reissued a "hold" rating on shares of Enovix in a research report on Tuesday, July 8th. Canaccord Genuity Group boosted their target price on Enovix from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, August 4th. TD Cowen upgraded Enovix to a "hold" rating and boosted their target price for the company from $7.00 to $15.00 in a research note on Monday, July 7th. Wall Street Zen lowered Enovix from a "hold" rating to a "sell" rating in a research note on Saturday, September 6th. Finally, B. Riley restated a "buy" rating and issued a $17.00 target price (up from $12.00) on shares of Enovix in a research note on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.00.

Enovix Price Performance

Enovix stock traded down $0.11 during midday trading on Tuesday, hitting $10.31. 3,625,695 shares of the company's stock were exchanged, compared to its average volume of 6,735,450. Enovix Corporation has a 52-week low of $5.27 and a 52-week high of $16.49. The stock has a 50-day moving average price of $11.19 and a two-hundred day moving average price of $9.16. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.37. The company has a market cap of $2.03 billion, a P/E ratio of -12.33 and a beta of 2.09.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02. Enovix had a negative return on equity of 73.88% and a negative net margin of 481.35%.The firm had revenue of $7.50 million during the quarter, compared to analysts' expectations of $5.48 million. During the same period in the prior year, the business earned ($0.14) EPS. The company's revenue for the quarter was up 98.2% compared to the same quarter last year. Enovix has set its Q3 2025 guidance at -0.180--0.140 EPS. On average, equities research analysts forecast that Enovix Corporation will post -1.01 earnings per share for the current year.

Enovix announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 2nd that authorizes the company to buyback $60.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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.