Nuveen LLC Purchases New Stake in Enovix Corporation $ENVX

Key Points

• Nuveen LLC has purchased 412,799 shares of Enovix Corporation, valued at approximately $3,030,000, representing about 0.21% of the company's total stock.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Enovix, with a price target averaging $17.00 following several upgrades from various research firms.
• Enovix reported a revenue increase of 98.2% year-over-year, with quarterly earnings topping analyst estimates, demonstrating significant growth potential.

Nuveen LLC purchased a new position in shares of Enovix Corporation (NASDAQ:ENVX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 412,799 shares of the company's stock, valued at approximately $3,030,000. Nuveen LLC owned 0.21% of Enovix as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ENVX. Sava Infond d.o.o. grew its stake in Enovix by 50.0% in the 1st quarter. Sava Infond d.o.o. now owns 6,000 shares of the company's stock valued at $44,000 after acquiring an additional 2,000 shares during the last quarter. Parallel Advisors LLC grew its stake in Enovix by 103.8% in the 1st quarter. Parallel Advisors LLC now owns 7,557 shares of the company's stock valued at $55,000 after acquiring an additional 3,849 shares during the last quarter. HBK Sorce Advisory LLC acquired a new stake in Enovix in the 1st quarter valued at about $74,000. Smith Salley Wealth Management acquired a new stake in Enovix in the 1st quarter valued at about $75,000. Finally, AMG National Trust Bank acquired a new stake in Enovix in the 1st quarter valued at about $75,000. 50.92% of the stock is owned by institutional investors and hedge funds.

Enovix Trading Down 3.1%

Shares of ENVX stock traded down $0.29 during trading hours on Wednesday, hitting $9.09. 3,942,468 shares of the company were exchanged, compared to its average volume of 6,036,598. The firm has a market cap of $1.79 billion, a PE ratio of -10.82 and a beta of 2.08. Enovix Corporation has a 1 year low of $5.27 and a 1 year 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 fifty day moving average of $11.95 and a 200 day moving average of $9.21.

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

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

Analyst Ratings Changes

ENVX has been the topic of a number of recent research reports. JPMorgan Chase & Co. restated a "neutral" rating and issued a $12.00 target price (up from $9.00) on shares of Enovix in a report on Thursday, July 24th. Benchmark upped their target price on shares of Enovix from $15.00 to $25.00 and gave the company a "buy" rating in a report on Friday, July 25th. Cowen restated a "hold" rating on shares of Enovix in a report on Tuesday, July 8th. Canaccord Genuity Group upped their target price on shares of Enovix from $20.00 to $22.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Enovix from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Five research 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, Enovix has an average rating of "Moderate Buy" and an average target price of $17.00.

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.