227,650 Shares in Enovix Co. (NASDAQ:ENVX) Bought by Parkside Investments LLC

Parkside Investments LLC purchased a new stake in shares of Enovix Co. (NASDAQ:ENVX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 227,650 shares of the company's stock, valued at approximately $1,671,000. Parkside Investments LLC owned 0.12% of Enovix at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC acquired a new stake in Enovix in the fourth quarter worth about $27,000. Sava Infond d.o.o. acquired a new position in Enovix in the fourth quarter valued at approximately $43,000. Parallel Advisors LLC raised its stake in shares of 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 buying an additional 3,849 shares during the period. Hollencrest Capital Management raised its stake in shares of Enovix by 61.4% during the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock worth $57,000 after buying an additional 2,000 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Enovix during the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 50.92% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Enovix from $10.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Benchmark dropped their target price on Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. B. Riley decreased their price objective on Enovix from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Craig Hallum decreased their price objective on Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, TD Securities decreased their target price on Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.27.

Enovix Price Performance

ENVX stock traded up $0.64 on Monday, reaching $8.86. 3,860,171 shares of the company's stock were exchanged, compared to its average volume of 5,901,672. The stock has a fifty day moving average of $7.24 and a 200-day moving average of $8.92. Enovix Co. has a twelve month low of $5.27 and a twelve month high of $18.68. The firm has a market cap of $1.70 billion, a PE ratio of -6.11 and a beta of 2.00. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99.

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.