Nishkama Capital LLC Raises Stock Position in Enovix Corporation $ENVX

Key Points

• Nishkama Capital LLC increased its stake in Enovix Corporation by 132.0% in Q1, owning 610,997 shares valued at approximately $4.49 million.
• Enovix announced a $60 million share buyback plan, allowing repurchase of up to 3.1% of its stock, reflecting confidence in perceived undervaluation.
• Enovix posted a beating EPS of ($0.13) in Q2, along with a revenue increase of 98.2% year-over-year, which was higher than analyst expectations.

Nishkama Capital LLC boosted its position in shares of Enovix Corporation (NASDAQ:ENVX - Free Report) by 132.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 610,997 shares of the company's stock after acquiring an additional 347,628 shares during the period. Enovix accounts for about 0.5% of Nishkama Capital LLC's holdings, making the stock its 24th biggest position. Nishkama Capital LLC owned 0.32% of Enovix worth $4,485,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG grew its stake in Enovix by 44.8% during the fourth quarter. Deutsche Bank AG now owns 140,606 shares of the company's stock valued at $1,528,000 after acquiring an additional 43,498 shares in the last quarter. Refined Wealth Management lifted its position in Enovix by 18.8% during the first quarter. Refined Wealth Management now owns 675,449 shares of the company's stock valued at $4,958,000 after purchasing an additional 106,843 shares during the last quarter. Strong Tower Advisory Services lifted its position in Enovix by 93.1% during the first quarter. Strong Tower Advisory Services now owns 144,045 shares of the company's stock valued at $1,057,000 after purchasing an additional 69,435 shares during the last quarter. CenterBook Partners LP lifted its position in Enovix by 71.0% during the first quarter. CenterBook Partners LP now owns 1,736,570 shares of the company's stock valued at $12,746,000 after purchasing an additional 721,309 shares during the last quarter. Finally, L & S Advisors Inc lifted its position in Enovix by 50.6% during the first quarter. L & S Advisors Inc now owns 191,975 shares of the company's stock valued at $1,409,000 after purchasing an additional 64,471 shares during the last quarter. Hedge funds and other institutional investors own 50.92% of the company's stock.

Enovix Trading Up 2.3%

NASDAQ:ENVX opened at $10.51 on Monday. The company has a fifty day moving average of $11.73 and a 200 day moving average of $9.26. Enovix Corporation has a 52 week low of $5.27 and a 52 week high of $16.49. The company has a quick ratio of 4.11, a current ratio of 4.37 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $2.07 billion, a P/E ratio of -12.51 and a beta of 2.11.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. Enovix had a negative net margin of 481.35% and a negative return on equity of 73.88%. The company had revenue of $7.50 million during the quarter, compared to analyst estimates of $5.48 million. During the same period in the prior year, the business posted ($0.14) EPS. The firm's revenue 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, research analysts predict that Enovix Corporation will post -1.01 earnings per share for the current year.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Cowen reiterated a "hold" rating on shares of Enovix in a research report on Tuesday, July 8th. B. Riley restated a "buy" rating and issued a $17.00 price objective (up from $12.00) on shares of Enovix in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Enovix from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Canaccord Genuity Group boosted their price objective on shares of Enovix from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Craig Hallum restated a "buy" rating and issued a $15.00 price objective (up from $12.00) on shares of Enovix in a report on Tuesday, July 8th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.90.

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.

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