Enovix (NASDAQ:ENVX) Shares Gap Up to $10.70

Enovix Co. (NASDAQ:ENVXGet Free Report)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $10.70, but opened at $11.44. Enovix shares last traded at $11.40, with a volume of 1,939,716 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ENVX. B. Riley reduced their price objective on Enovix from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, January 18th. Finally, William Blair began coverage on Enovix in a research report on Monday, December 18th. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.00.

View Our Latest Report on Enovix

Enovix Price Performance

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 company has a market cap of $1.99 billion, a PE ratio of -8.23 and a beta of 1.70. The stock has a 50-day simple moving average of $11.54 and a 200 day simple moving average of $12.40.

Institutional Investors Weigh In On Enovix

Several institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC raised its holdings in shares of Enovix by 52.9% in the 4th quarter. Advisory Services Network LLC now owns 50,045 shares of the company’s stock valued at $627,000 after buying an additional 17,310 shares during the period. Oxford Asset Management LLP acquired a new position in Enovix during the 4th quarter worth $226,000. US Bancorp DE grew its stake in Enovix by 225.9% during the 4th quarter. US Bancorp DE now owns 11,904 shares of the company’s stock worth $149,000 after purchasing an additional 8,251 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Enovix during the 4th quarter worth about $49,000. Finally, Corient Private Wealth LLC boosted its position in shares of Enovix by 1.9% during the 4th quarter. Corient Private Wealth LLC now owns 49,587 shares of the company’s stock worth $621,000 after acquiring an additional 910 shares in the last quarter. Hedge funds and other institutional investors own 49.68% of the company’s stock.

About Enovix

(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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