Enovix (NASDAQ:ENVX) Given Outperform Rating at William Blair

William Blair restated their outperform rating on shares of Enovix (NASDAQ:ENVX) in a research report report published on Thursday morning, RTT News reports.

Other research analysts also recently issued reports about the company. B. Riley decreased their price target on Enovix from $18.00 to $16.00 and set a buy rating for the company in a research note on Tuesday, April 30th. Canaccord Genuity Group restated a buy rating and set a $17.00 target price on shares of Enovix in a report on Wednesday, February 21st. Cantor Fitzgerald reiterated an overweight rating and issued a $30.00 price target on shares of Enovix in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Enovix from $18.00 to $12.00 and set an overweight rating on the stock in a report on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Enovix currently has an average rating of Moderate Buy and a consensus price target of $18.33.

Enovix Stock Performance

Shares of ENVX stock opened at $10.09 on Thursday. Enovix has a 12 month low of $5.70 and a 12 month high of $23.90. The company’s fifty day simple moving average is $7.88 and its 200-day simple moving average is $10.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $7.38 million for the quarter, compared to the consensus estimate of $3.37 million. Enovix had a negative return on equity of 83.66% and a negative net margin of 1,448.90%. On average, research analysts predict that Enovix will post -1.13 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clarity Capital Partners LLC raised its position in shares of Enovix by 5.0% in the 1st quarter. Clarity Capital Partners LLC now owns 137,818 shares of the company’s stock valued at $1,104,000 after buying an additional 6,578 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in Enovix in the first quarter valued at approximately $216,000. Janney Montgomery Scott LLC raised its position in Enovix by 19.2% during the first quarter. Janney Montgomery Scott LLC now owns 116,746 shares of the company’s stock valued at $935,000 after purchasing an additional 18,767 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Enovix by 2,228.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock worth $11,518,000 after purchasing an additional 1,376,253 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. boosted its holdings in shares of Enovix by 68.4% in the 1st quarter. Cutter & CO Brokerage Inc. now owns 41,573 shares of the company’s stock valued at $333,000 after purchasing an additional 16,885 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

About Enovix

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.