Stone House Investment Management LLC Grows Stock Position in Enovix Co. (NASDAQ:ENVX)

Stone House Investment Management LLC boosted its stake in shares of Enovix Co. (NASDAQ:ENVXFree Report) by 18.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,310 shares of the company’s stock after buying an additional 1,000 shares during the period. Stone House Investment Management LLC’s holdings in Enovix were worth $114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Enovix by 10.3% in the third quarter. Vanguard Group Inc. now owns 11,160,113 shares of the company’s stock worth $204,621,000 after purchasing an additional 1,038,778 shares during the period. BlackRock Inc. increased its stake in shares of Enovix by 0.7% during the first quarter. BlackRock Inc. now owns 6,922,626 shares of the company’s stock valued at $103,216,000 after buying an additional 49,389 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Enovix by 0.3% during the second quarter. Handelsbanken Fonder AB now owns 2,612,820 shares of the company’s stock valued at $47,135,000 after buying an additional 7,000 shares during the period. Granahan Investment Management LLC increased its stake in shares of Enovix by 14.4% during the first quarter. Granahan Investment Management LLC now owns 2,183,300 shares of the company’s stock valued at $32,553,000 after buying an additional 274,482 shares during the period. Finally, State Street Corp increased its stake in shares of Enovix by 4.2% during the first quarter. State Street Corp now owns 2,149,981 shares of the company’s stock valued at $32,056,000 after buying an additional 86,388 shares during the period. Hedge funds and other institutional investors own 49.68% of the company’s stock.

Enovix Stock Performance

Shares of NASDAQ:ENVX traded up $0.35 during trading on Monday, hitting $11.95. The stock had a trading volume of 1,937,310 shares, compared to its average volume of 5,788,863. Enovix Co. has a 12-month low of $6.50 and a 12-month high of $23.90. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of -8.06 and a beta of 1.65. The company has a quick ratio of 8.51, a current ratio of 8.52 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $11.19 and a two-hundred day simple moving average of $14.05.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ENVX. B. Riley cut their price target on Enovix from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Cantor Fitzgerald raised their price objective on Enovix from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, November 8th. Finally, Craig Hallum raised their price objective on Enovix from $15.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $27.11.

Get Our Latest Stock Report on ENVX

About Enovix

(Free Report)

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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Institutional Ownership by Quarter for Enovix (NASDAQ:ENVX)

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