Enovix (NASDAQ:ENVX) Given “Overweight” Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Enovix (NASDAQ:ENVXGet Rating) in a research report sent to investors on Tuesday, Stock Target Advisor reports. Piper Sandler currently has a $29.00 price target on the stock.

Several other analysts have also recently commented on the company. Northland Securities raised their target price on Enovix from $22.00 to $25.00 and gave the stock an outperform rating in a research report on Thursday, August 11th. Cowen lifted their price objective on Enovix from $19.00 to $36.00 in a report on Wednesday, August 24th. Cowen lifted their price objective on Enovix from $19.00 to $36.00 and gave the company an outperform rating in a report on Wednesday, August 24th. Craig Hallum lifted their price objective on Enovix from $20.00 to $25.00 and gave the company a buy rating in a report on Thursday, August 11th. Finally, Loop Capital lifted their target price on shares of Enovix from $50.00 to $100.00 and gave the company a buy rating in a research note on Monday, August 22nd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $38.63.

Enovix Stock Down 2.5 %

ENVX opened at $22.22 on Tuesday. Enovix has a 52 week low of $7.26 and a 52 week high of $39.48. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -21.78 and a beta of 1.96. The business’s 50 day moving average is $17.73 and its two-hundred day moving average is $13.60.

Enovix (NASDAQ:ENVXGet Rating) last released its earnings results on Wednesday, August 10th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. During the same period last year, the business earned ($0.21) earnings per share. Equities analysts expect that Enovix will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Gardner Cameron Dales sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $14.00, for a total value of $700,000.00. Following the completion of the transaction, the insider now owns 999,565 shares in the company, valued at approximately $13,993,910. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Harrold J. Rust sold 4,500 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $20.46, for a total value of $92,070.00. Following the completion of the transaction, the chief executive officer now owns 1,375,031 shares of the company’s stock, valued at approximately $28,133,134.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gardner Cameron Dales sold 50,000 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $14.00, for a total transaction of $700,000.00. Following the completion of the transaction, the insider now directly owns 999,565 shares of the company’s stock, valued at approximately $13,993,910. The disclosure for this sale can be found here. Insiders sold 87,500 shares of company stock worth $1,466,550 in the last quarter. Insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On Enovix

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Enovix by 392.4% in the 2nd 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. Encompass Capital Advisors LLC raised its holdings in shares of Enovix by 113.5% in the 2nd quarter. Encompass Capital Advisors LLC now owns 2,819,699 shares of the company’s stock valued at $25,124,000 after purchasing an additional 1,499,121 shares during the period. Northern Trust Corp raised its holdings in shares of Enovix by 401.4% in the 2nd quarter. Northern Trust Corp now owns 973,135 shares of the company’s stock valued at $8,671,000 after purchasing an additional 779,033 shares during the period. Polar Asset Management Partners Inc. raised its holdings in shares of Enovix by 507.3% in the 1st quarter. Polar Asset Management Partners Inc. now owns 852,100 shares of the company’s stock valued at $12,159,000 after purchasing an additional 711,800 shares during the period. Finally, Handelsbanken Fonder AB bought a new stake in shares of Enovix in the 2nd quarter valued at about $5,089,000. Institutional investors and hedge funds own 61.75% of the company’s stock.

Enovix Company Profile

(Get Rating)

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.

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