Sonora Investment Management Group LLC Has $2.38 Million Stake in Enovix Co. (NASDAQ:ENVX)

Sonora Investment Management Group LLC increased its holdings in Enovix Co. (NASDAQ:ENVX - Free Report) by 17.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,449 shares of the company's stock after buying an additional 48,548 shares during the quarter. Sonora Investment Management Group LLC owned about 0.17% of Enovix worth $2,381,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Coppell Advisory Solutions LLC acquired a new stake in Enovix in the fourth quarter worth about $27,000. Sava Infond d.o.o. bought a new stake in Enovix in the fourth quarter worth about $43,000. Hollencrest Capital Management lifted its holdings in Enovix by 61.4% in the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock valued at $57,000 after acquiring an additional 2,000 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Enovix in the 4th quarter worth approximately $65,000. Finally, Parallel Advisors LLC raised its holdings in shares of Enovix by 103.8% in 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 in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENVX has been the subject of a number of research reports. Craig Hallum reduced their target price on shares of Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 20th. B. Riley decreased their target price on Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Benchmark decreased their price target on Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. TD Securities cut their price objective on Enovix from $10.00 to $7.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 target price on shares of Enovix in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.27.

Enovix Stock Performance

Enovix stock traded up $0.06 during mid-day trading on Wednesday, reaching $8.68. The company had a trading volume of 3,650,747 shares, compared to its average volume of 5,944,493. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -5.99 and a beta of 2.00. The company has a 50 day moving average of $7.01 and a 200-day moving average of $8.94. Enovix Co. has a 52 week low of $5.27 and a 52 week high of $18.68.

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.