Enovix’s (ENVX) “Outperform” Rating Reiterated at William Blair

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

Several other analysts have also weighed in on ENVX. Cantor Fitzgerald restated an overweight rating and issued a $30.00 price objective on shares of Enovix in a report on Thursday, April 25th. Canaccord Genuity Group reissued a buy rating and issued a $17.00 price objective on shares of Enovix in a research report on Wednesday, February 21st. JPMorgan Chase & Co. dropped their price target on shares of Enovix from $18.00 to $12.00 and set an overweight rating for the company in a research report on Friday, April 26th. Finally, B. Riley cut their price target on shares of Enovix from $18.00 to $16.00 and set a buy rating for the company in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $25.29.

Enovix Trading Up 6.5 %

Shares of ENVX stock traded up $0.62 during trading hours on Thursday, reaching $10.09. 11,963,656 shares of the company’s stock were exchanged, compared to its average volume of 5,634,649. The company has a debt-to-equity ratio of 0.65, a quick ratio of 5.15 and a current ratio of 5.30. The company’s 50 day moving average is $7.88 and its two-hundred day moving average is $10.01. Enovix has a 1 year low of $5.70 and a 1 year high of $23.90.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results 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). The firm had revenue of $7.38 million for the quarter, compared to analysts’ expectations of $3.37 million. Enovix had a negative net margin of 1,448.90% and a negative return on equity of 83.66%. Analysts anticipate that Enovix will post -1.13 earnings per share for the current year.

Insider Activity at Enovix

In related news, COO Ajay Marathe sold 4,954 shares of the company’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.30% of the stock is owned by company insiders.

Institutional Trading of Enovix

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Enovix during the third quarter valued at approximately $31,000. Beacon Capital Management LLC grew its stake in Enovix by 66.7% during the fourth quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. Carmel Capital Partners LLC bought a new stake in Enovix during the third quarter valued at $34,000. Able Wealth Management LLC bought a new position in shares of Enovix in the fourth quarter worth approximately $34,000. Finally, Quest Partners LLC purchased a new position in Enovix in the fourth quarter worth $49,000. Institutional investors and hedge funds 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.