UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.29 Million Stock Position in Enovix Co. (NASDAQ:ENVX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 23.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,347 shares of the company's stock after buying an additional 56,986 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of Enovix worth $3,287,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Enovix by 15.1% in the 4th quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock valued at $171,458,000 after buying an additional 2,063,631 shares in the last quarter. Fred Alger Management LLC grew its stake in Enovix by 212.4% in the fourth quarter. Fred Alger Management LLC now owns 1,838,914 shares of the company's stock valued at $19,989,000 after acquiring an additional 1,250,300 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Enovix in the fourth quarter worth about $3,484,000. Frontier Capital Management Co. LLC acquired a new stake in shares of Enovix during the fourth quarter worth about $3,397,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Enovix by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company's stock valued at $41,520,000 after purchasing an additional 235,142 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 target price on shares of Enovix in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price objective on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Benchmark cut their price objective on shares of Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Craig Hallum lowered their target price on Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, B. Riley cut their price target on Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $17.27.

Enovix Stock Performance

NASDAQ ENVX traded up $0.28 on Monday, hitting $8.59. 6,488,638 shares of the stock were exchanged, compared to its average volume of 5,975,742. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The business's fifty day moving average is $6.95 and its 200 day moving average is $8.95. The company has a market capitalization of $1.65 billion, a PE ratio of -5.92 and a beta of 2.00. Enovix Co. has a 52 week low of $5.27 and a 52 week high of $18.68.

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.