Enovix (NASDAQ:ENVX) Shares Up 4%

Enovix Co. (NASDAQ:ENVX - Get Free Report) shares rose 4% during mid-day trading on Friday . The stock traded as high as $6.28 and last traded at $6.25. Approximately 1,176,576 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 4,412,299 shares. The stock had previously closed at $6.01.

Analyst Ratings Changes

ENVX has been the subject of several recent research reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price objective on shares of Enovix in a research note on Wednesday, February 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 target price on shares of Enovix in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.29.

Enovix Trading Up 4.2 %

The business has a 50 day simple moving average of $8.87 and a two-hundred day simple moving average of $10.29. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -4.09 and a beta of 1.62.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its earnings results on Tuesday, February 20th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The firm had revenue of $7.38 million during the quarter, compared to analyst estimates of $3.37 million. Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. As a group, equities analysts anticipate that Enovix Co. will post -1.13 EPS for the current year.

Insider Buying and Selling

In other Enovix news, COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the sale, the chief operating officer now owns 978,913 shares of the company's stock, valued at approximately $7,155,854.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.30% of the company's stock.

Institutional Trading of Enovix

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Enovix by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 12,928,993 shares of the company's stock worth $161,871,000 after buying an additional 513,508 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Enovix by 24.7% during the second quarter. BlackRock Inc. now owns 8,635,683 shares of the company's stock valued at $155,788,000 after buying an additional 1,713,057 shares in the last quarter. Electron Capital Partners LLC grew its holdings in shares of Enovix by 20.0% during the fourth quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company's stock valued at $40,556,000 after buying an additional 540,399 shares in the last quarter. State Street Corp grew its holdings in shares of Enovix by 22.0% during the second quarter. State Street Corp now owns 2,622,992 shares of the company's stock valued at $47,319,000 after buying an additional 473,011 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Enovix by 0.4% during the third quarter. Handelsbanken Fonder AB now owns 2,622,620 shares of the company's stock valued at $32,914,000 after buying an additional 9,800 shares in the last quarter. Institutional investors own 50.92% of the company's stock.

Enovix Company Profile

Enovix Corporation designs, develops, and manufactures 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.