Enovix’s (ENVX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Enovix (NASDAQ:ENVX) in a research note published on Thursday morning, Benzinga reports. Cantor Fitzgerald currently has a $30.00 price objective on the stock.

Separately, Canaccord Genuity Group reiterated a buy rating and set a $17.00 price target on shares of Enovix in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $27.43.

Enovix Trading Up 10.6 %

NASDAQ ENVX opened at $6.46 on Thursday. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average price of $8.18 and a 200-day moving average price of $10.10. Enovix has a 1 year low of $5.70 and a 1 year high of $23.90.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. The firm had revenue of $7.38 million during the quarter, compared to the consensus estimate of $3.37 million. As a group, sell-side analysts anticipate that Enovix will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Enovix

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the business’s stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total value of $36,213.74. Following the sale, the chief operating officer now directly owns 978,913 shares in the company, valued at $7,155,854.03. The sale was disclosed in a filing with the SEC, which is accessible through this link. 17.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enovix

Large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its position in Enovix by 1.9% during the fourth quarter. Corient Private Wealth LLC now owns 49,587 shares of the company’s stock worth $621,000 after purchasing an additional 910 shares during the period. Beacon Capital Management LLC boosted its holdings in Enovix by 66.7% in the 4th quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock worth $31,000 after buying an additional 1,000 shares during the period. Amalgamated Bank boosted its holdings in Enovix by 5.9% in the 3rd quarter. Amalgamated Bank now owns 20,827 shares of the company’s stock worth $261,000 after buying an additional 1,154 shares during the period. Victory Capital Management Inc. grew its stake in Enovix by 10.5% in the 3rd quarter. Victory Capital Management Inc. now owns 14,253 shares of the company’s stock valued at $179,000 after buying an additional 1,351 shares in the last quarter. Finally, Insight Advisors LLC PA raised its holdings in Enovix by 3.2% during the 4th quarter. Insight Advisors LLC PA now owns 44,354 shares of the company’s stock valued at $555,000 after acquiring an additional 1,370 shares during the period. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Company Profile

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.