Nuveen LLC Purchases New Position 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 bought a new position in shares of Enovix Corporation (NASDAQ:ENVX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 412,799 shares of the company's stock, valued at approximately $3,030,000. Nuveen LLC owned about 0.21% of Enovix at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ENVX. Sava Infond d.o.o. boosted its holdings in Enovix by 50.0% during 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. Parallel Advisors LLC grew its stake in shares of Enovix by 103.8% in the first quarter. Parallel Advisors LLC now owns 7,557 shares of the company's stock valued at $55,000 after buying an additional 3,849 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in shares of Enovix in the first quarter valued at $74,000. Smith Salley Wealth Management bought a new position in shares of Enovix in the first quarter valued at $75,000. Finally, AMG National Trust Bank bought a new position in shares of Enovix in the first quarter valued at $75,000. Institutional investors and hedge funds own 50.92% of the company's stock.

Enovix Stock Performance

Shares of ENVX traded down $0.32 during midday trading on Tuesday, reaching $9.30. 3,649,070 shares of the stock were exchanged, compared to its average volume of 6,510,634. Enovix Corporation has a twelve month low of $5.27 and a twelve month 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 company has a market cap of $1.83 billion, a P/E ratio of -11.07 and a beta of 2.09. The stock's 50 day simple moving average is $11.92 and its 200 day simple moving average is $9.21.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.13) earnings per share 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 company had revenue of $7.50 million during the quarter, compared to the consensus estimate of $5.48 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The company's revenue was up 98.2% on a year-over-year basis. Enovix has set its Q3 2025 guidance at -0.180--0.140 EPS. On average, sell-side analysts expect that Enovix Corporation will post -1.01 earnings per share for the current year.

Enovix declared that its Board of Directors has approved a share buyback program on Wednesday, July 2nd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ENVX. B. Riley reissued 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. Canaccord Genuity Group raised their price target on Enovix from $20.00 to $22.00 and gave the company a "buy" rating in a report on Monday, August 4th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $12.00 price target (up previously from $9.00) on shares of Enovix in a report on Thursday, July 24th. TD Cowen raised Enovix to a "hold" rating and raised their price target for the company from $7.00 to $15.00 in a report on Monday, July 7th. Finally, Cowen reaffirmed a "hold" rating on shares of Enovix in a report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Enovix 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.