Enovix Corporation $ENVX Shares Bought by Old West Investment Management LLC

Key Points

• Old West Investment Management LLC increased its stake in Enovix Corporation by 7.0%, acquiring an additional 54,973 shares, which now constitutes about 2.2% of its investment portfolio.
• Several analysts have recently upgraded their ratings for Enovix, with **Benchmark** raising the price target to $25.00 and a consensus rating of Moderate Buy among research analysts.
• Enovix reported a revenue of $7.50 million for its most recent quarter, exceeding estimates, marking a year-over-year increase of 98.2%.

Old West Investment Management LLC grew its holdings in shares of Enovix Corporation (NASDAQ:ENVX - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 835,537 shares of the company's stock after purchasing an additional 54,973 shares during the quarter. Enovix makes up about 2.2% of Old West Investment Management LLC's portfolio, making the stock its 18th biggest holding. Old West Investment Management LLC owned approximately 0.44% of Enovix worth $6,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENVX. Coppell Advisory Solutions LLC acquired a new stake in Enovix during the 4th quarter worth $27,000. Stone House Investment Management LLC acquired a new stake in Enovix during the 1st quarter worth $37,000. Sava Infond d.o.o. boosted its stake in Enovix by 50.0% during the 1st 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 boosted its stake in Enovix by 103.8% during the 1st quarter. Parallel Advisors LLC now owns 7,557 shares of the company's stock worth $55,000 after purchasing an additional 3,849 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in Enovix during the 1st quarter worth $74,000. Institutional investors and hedge funds own 50.92% of the company's stock.

Enovix Trading Down 3.1%

Shares of NASDAQ:ENVX traded down $0.31 during midday trading on Friday, reaching $9.62. 9,378,535 shares of the company's stock were exchanged, compared to its average volume of 7,132,286. The firm's 50 day simple moving average is $11.89 and its two-hundred day simple moving average is $9.23. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.37 and a quick ratio of 4.11. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -11.45 and a beta of 2.11. Enovix Corporation has a fifty-two week low of $5.27 and a fifty-two week high of $16.49.

Enovix (NASDAQ:ENVX - Get Free Report) last issued 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. The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $5.48 million. Enovix had a negative return on equity of 73.88% and a negative net margin of 481.35%.The company's quarterly revenue was up 98.2% on a year-over-year basis. During the same period last year, the company earned ($0.14) EPS. Enovix has set its Q3 2025 guidance at -0.180--0.140 EPS. As a group, sell-side analysts forecast that Enovix Corporation will post -1.01 EPS for the current fiscal year.

Enovix announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 2nd that allows the company to buyback $60.00 million in shares. This buyback authorization allows the company to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ENVX shares. Canaccord Genuity Group lifted their target price on shares of Enovix from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. B. Riley reiterated a "buy" rating and set a $17.00 price target (up previously from $12.00) on shares of Enovix in a report on Thursday, July 10th. TD Cowen upgraded Enovix to a "hold" rating and lifted their price target for the stock from $7.00 to $15.00 in a report on Monday, July 7th. Benchmark lifted their price target on Enovix from $15.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded Enovix from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.