Enovix (NASDAQ:ENVX) Trading Up 11.9%

Enovix Co. (NASDAQ:ENVX - Get Free Report)'s share price was up 11.9% during mid-day trading on Monday . The company traded as high as $9.56 and last traded at $9.52. Approximately 1,380,162 shares traded hands during trading, a decline of 71% from the average daily volume of 4,818,477 shares. The stock had previously closed at $8.51.

Analyst Ratings Changes

A number of research analysts have issued reports on ENVX shares. B. Riley reduced their target price on shares of Enovix from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, April 30th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, April 25th. Craig Hallum reduced their target price on shares of Enovix from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Enovix from $18.00 to $12.00 and set an "overweight" rating for the company in a research note on Friday, April 26th. Finally, William Blair reaffirmed an "outperform" rating on shares of Enovix in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Enovix presently has an average rating of "Moderate Buy" and an average price target of $18.33.

Enovix Trading Up 3.2 %

The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.77 and a current ratio of 4.89. The business's 50 day moving average price is $7.80 and its two-hundred day moving average price is $9.97. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -6.55 and a beta of 1.70.

Enovix (NASDAQ:ENVX - Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). Enovix had a negative return on equity of 85.47% and a negative net margin of 1,448.90%. The business had revenue of $7.38 million during the quarter, compared to the consensus estimate of $3.37 million. Equities analysts forecast that Enovix Co. will post -1.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Ajay Marathe sold 4,954 shares of the business's stock in a transaction that occurred on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total value of $36,213.74. Following the sale, the chief operating officer now directly owns 978,913 shares in the company, valued at approximately $7,155,854.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.30% of the company's stock.

Institutional Investors Weigh In On Enovix

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Enovix by 1.3% during the first quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company's stock valued at $104,881,000 after acquiring an additional 164,717 shares during the period. Electron Capital Partners LLC raised 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 acquiring an additional 540,399 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Enovix by 2,228.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company's stock valued at $11,518,000 after acquiring an additional 1,376,253 shares during the period. Masters Capital Management LLC raised its holdings in shares of Enovix by 18.2% during the fourth quarter. Masters Capital Management LLC now owns 1,300,000 shares of the company's stock valued at $16,276,000 after acquiring an additional 200,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Enovix by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,089,959 shares of the company's stock valued at $13,646,000 after acquiring an additional 55,157 shares during the period. Institutional investors and hedge funds 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.