Vanguard Group Inc. Has $155.81 Million Stock Position in Enovix Co. (NASDAQ:ENVX)

Vanguard Group Inc. boosted its holdings in Enovix Co. (NASDAQ:ENVX - Free Report) by 9.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 12,415,485 shares of the company's stock after buying an additional 1,072,508 shares during the period. Vanguard Group Inc. owned approximately 7.40% of Enovix worth $155,814,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Electron Capital Partners LLC raised its stake in shares of Enovix by 188.0% during the third quarter. Electron Capital Partners LLC now owns 2,698,897 shares of the company's stock valued at $33,871,000 after purchasing an additional 1,761,834 shares during the period. BlackRock Inc. raised its stake 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 purchasing an additional 1,713,057 shares during the period. State Street Corp raised its stake in shares of Enovix by 392.4% during the second quarter. State Street Corp now owns 1,935,508 shares of the company's stock valued at $17,245,000 after purchasing an additional 1,542,457 shares during the period. Norges Bank purchased a new stake in shares of Enovix during the fourth quarter valued at approximately $13,142,000. Finally, Masters Capital Management LLC purchased a new stake in shares of Enovix during the first quarter valued at approximately $14,910,000. Hedge funds and other institutional investors own 50.92% of the company's stock.

Analyst Ratings Changes

ENVX has been the subject of a number of research analyst reports. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 price target on shares of Enovix in a research note on Wednesday, February 21st. William Blair initiated coverage on shares of Enovix in a research note on Monday, December 18th. They issued an "outperform" rating for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price target on shares of Enovix in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Enovix has an average rating of "Moderate Buy" and a consensus price target of $28.29.

Enovix Stock Performance

Enovix stock traded down $0.31 during mid-day trading on Tuesday, reaching $7.60. The company's stock had a trading volume of 2,295,979 shares, compared to its average volume of 4,466,001. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -4.97 and a beta of 1.62. The business has a 50 day moving average price of $9.48 and a 200-day moving average price of $10.70. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.65. Enovix Co. has a twelve month low of $7.05 and a twelve month high of $23.90.

Enovix (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). The business 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%. Sell-side analysts predict that Enovix Co. will post -1.13 EPS for the current fiscal year.

About Enovix

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.