Reynders McVeigh Capital Management LLC Sells 179,658 Shares of Enovix Corporation $ENVX

Reynders McVeigh Capital Management LLC reduced its stake in shares of Enovix Corporation (NASDAQ:ENVX) by 69.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 77,882 shares of the company’s stock after selling 179,658 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Enovix were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new position in Enovix in the second quarter valued at about $61,000. Engineers Gate Manager LP grew its stake in Enovix by 132.4% during the second quarter. Engineers Gate Manager LP now owns 51,281 shares of the company’s stock worth $311,000 after buying an additional 29,214 shares in the last quarter. HB Wealth Management LLC grew its stake in Enovix by 99.5% during the second quarter. HB Wealth Management LLC now owns 30,664 shares of the company’s stock worth $186,000 after buying an additional 15,294 shares in the last quarter. AXQ Capital LP increased its holdings in Enovix by 249.5% in the 2nd quarter. AXQ Capital LP now owns 118,115 shares of the company’s stock valued at $717,000 after buying an additional 84,322 shares during the period. Finally, Headlands Technologies LLC increased its holdings in Enovix by 231.6% in the 2nd quarter. Headlands Technologies LLC now owns 301,781 shares of the company’s stock valued at $1,832,000 after buying an additional 210,782 shares during the period. Institutional investors own 50.92% of the company’s stock.

Analysts Set New Price Targets

ENVX has been the subject of a number of recent analyst reports. Craig Hallum set a $7.00 price target on shares of Enovix in a report on Thursday, August 13th. Canaccord Genuity Group decreased their price objective on shares of Enovix from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Bank of America restated a “neutral” rating and set a $5.00 price objective on shares of Enovix in a research report on Monday, August 17th. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of Enovix in a research note on Thursday, August 13th. Finally, TD Cowen reduced their target price on Enovix from $7.00 to $5.50 and set a “hold” rating on the stock in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.77.

Enovix Price Performance

ENVX stock traded down $0.04 during midday trading on Tuesday, reaching $2.98. 7,513,721 shares of the stock were exchanged, compared to its average volume of 6,654,660. The stock has a market capitalization of $653.96 million, a PE ratio of -3.68 and a beta of 2.31. Enovix Corporation has a 52 week low of $2.89 and a 52 week high of $14.21. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37. The company has a fifty day moving average price of $4.05 and a 200 day moving average price of $5.42.

Enovix (NASDAQ:ENVX) last issued its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%.The business had revenue of $9.02 million during the quarter, compared to analysts’ expectations of $8.43 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. As a group, analysts expect that Enovix Corporation will post -0.8 EPS for the current fiscal year.

About Enovix

Enovix Corporation (NASDAQ: ENVX) is a battery technology company developing lithium-ion batteries with silicon-anode materials and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while maintaining safety and durability for applications that require compact, high-performance energy storage.

The company’s battery platform incorporates a silicon anode, a stainless-steel constraint system and its BrakeFlow technology, which is designed to help prevent thermal runaway from spreading within a battery pack.