Brokerages Set Enovix Co. (NASDAQ:ENVX) Price Target at $28.00

Enovix Co. (NASDAQ:ENVXGet Free Report) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $28.00.

ENVX has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research report on Thursday, January 18th. William Blair initiated coverage on shares of Enovix in a research report on Monday, December 18th. They issued an “outperform” rating for the company. Finally, B. Riley reduced their price objective on shares of Enovix from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th.

Get Our Latest Stock Analysis on Enovix

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENVX. Capital Wealth Planning LLC purchased a new stake in shares of Enovix in the 4th quarter valued at $313,000. Janney Montgomery Scott LLC boosted its holdings in shares of Enovix by 5.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 97,979 shares of the company’s stock valued at $1,227,000 after acquiring an additional 4,971 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Enovix by 37.8% in the 4th quarter. Avantax Advisory Services Inc. now owns 22,803 shares of the company’s stock valued at $285,000 after acquiring an additional 6,256 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Enovix by 11.8% in the 4th quarter. Principal Financial Group Inc. now owns 16,012 shares of the company’s stock valued at $200,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in Enovix during the fourth quarter worth $934,000. Institutional investors and hedge funds own 49.68% of the company’s stock.

Enovix Price Performance

Shares of ENVX opened at $10.70 on Tuesday. The company has a 50 day moving average price of $11.55 and a 200-day moving average price of $12.50. Enovix has a fifty-two week low of $7.92 and a fifty-two week high of $23.90. The stock has a market capitalization of $1.80 billion, a PE ratio of -7.43 and a beta of 1.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 8.51 and a current ratio of 8.52.

Enovix (NASDAQ:ENVXGet Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.06. Enovix had a negative net margin of 12,188.42% and a negative return on equity of 64.06%. The firm had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.18 million. Equities analysts predict that Enovix will post -1.29 earnings per share for the current fiscal year.

Enovix Company Profile

(Get 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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Analyst Recommendations for Enovix (NASDAQ:ENVX)

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