Thurman J. Rodgers Buys 34,899 Shares of Enovix Co. (NASDAQ:ENVX) Stock

Enovix Co. (NASDAQ:ENVX – Get Rating) Director Thurman J. Rodgers purchased 34,899 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were bought at an average cost of $10.96 per share, with a total value of $382,493.04. Following the acquisition, the director now directly owns 629,144 shares of the company’s stock, valued at approximately $6,895,418.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Enovix Trading Up 3.3 %

NASDAQ:ENVX opened at $11.23 on Friday. The company has a market capitalization of $1.77 billion, a P/E ratio of -9.85 and a beta of 0.99. Enovix Co. has a 12 month low of $6.50 and a 12 month high of $26.30. The business’s 50-day moving average is $8.84 and its 200 day moving average is $13.14.

Institutional Investors Weigh In On Enovix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. purchased a new stake in Enovix during the third quarter valued at approximately $26,000. Endurance Wealth Management Inc. purchased a new stake in Enovix during the fourth quarter valued at approximately $25,000. Belpointe Asset Management LLC purchased a new stake in Enovix during the fourth quarter valued at approximately $25,000. Quantbot Technologies LP purchased a new stake in Enovix during the second quarter valued at approximately $26,000. Finally, Emerald Advisers LLC purchased a new stake in Enovix during the third quarter valued at approximately $62,000. 55.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENVX has been the subject of several recent research reports. EF Hutton Acquisition Co. I reissued a “buy” rating and set a $18.00 price target on shares of Enovix in a report on Thursday, February 23rd. JPMorgan Chase & Co. dropped their price objective on Enovix from $28.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday, January 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Enovix in a research note on Friday, March 10th. Canaccord Genuity Group began coverage on Enovix in a research note on Wednesday, January 11th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Craig Hallum dropped their price objective on Enovix from $23.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Twelve 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 a consensus target price of $27.92.

About Enovix

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