Enovix Co. (NASDAQ:ENVX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Enovix Co. (NASDAQ:ENVXGet Free Report) have been given an average rating of “Moderate Buy” by the eleven research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $20.50.

A number of research firms have recently issued reports on ENVX. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Enovix in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Thursday, October 31st.

Check Out Our Latest Report on ENVX

Enovix Stock Performance

NASDAQ ENVX opened at $10.72 on Tuesday. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. Enovix has a twelve month low of $5.70 and a twelve month high of $18.68. The stock has a 50-day moving average of $10.06 and a 200 day moving average of $10.91. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -6.66 and a beta of 1.86.

Enovix (NASDAQ:ENVXGet Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.03. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. The firm had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. During the same period in the prior year, the company earned ($0.27) EPS. Sell-side analysts anticipate that Enovix will post -1.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total transaction of $729,750.00. Following the sale, the director now directly owns 99,497 shares in the company, valued at $968,105.81. This trade represents a 42.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On Enovix

Large investors have recently bought and sold shares of the stock. Wealthcare Advisory Partners LLC grew its position in Enovix by 6.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company’s stock valued at $228,000 after buying an additional 1,214 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Enovix by 6.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock worth $202,000 after purchasing an additional 1,367 shares during the period. Clear Creek Financial Management LLC lifted its holdings in shares of Enovix by 3.0% in the 3rd quarter. Clear Creek Financial Management LLC now owns 48,200 shares of the company’s stock valued at $450,000 after buying an additional 1,400 shares during the period. LJI Wealth Management LLC lifted its holdings in Enovix by 2.1% in the third quarter. LJI Wealth Management LLC now owns 73,900 shares of the company’s stock valued at $690,000 after acquiring an additional 1,500 shares during the period. Finally, Voisard Asset Management Group Inc. boosted its position in shares of Enovix by 40.0% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock worth $65,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Company Profile

(Get Free Report

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.

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Analyst Recommendations for Enovix (NASDAQ:ENVX)

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