Granahan Investment Management LLC Increases Position in Enovix Corporation $ENVX

Granahan Investment Management LLC increased its holdings in Enovix Corporation (NASDAQ:ENVX) by 17.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,749,649 shares of the company’s stock after purchasing an additional 260,085 shares during the quarter. Granahan Investment Management LLC owned 0.81% of Enovix worth $17,444,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Enovix by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock valued at $722,000 after buying an additional 4,780 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Enovix by 10.4% during the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock valued at $193,000 after buying an additional 2,481 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Enovix by 65.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock valued at $8,351,000 after buying an additional 449,934 shares in the last quarter. Caxton Associates LLP acquired a new stake in Enovix in the 1st quarter valued at $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Enovix by 18.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock valued at $2,628,000 after acquiring an additional 55,676 shares during the period. 50.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ENVX shares. TD Cowen cut their price target on shares of Enovix from $15.00 to $7.50 and set a “hold” rating for the company in a report on Thursday, February 26th. Wells Fargo & Company set a $6.00 target price on shares of Enovix in a research report on Thursday. Craig Hallum cut their target price on shares of Enovix from $16.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Oppenheimer restated an “outperform” rating on shares of Enovix in a research report on Thursday, February 26th. Finally, Northland Securities set a $16.00 price target on shares of Enovix in a research note on Monday, November 17th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.46.

Enovix Stock Up 0.4%

NASDAQ ENVX opened at $4.94 on Monday. The business has a fifty day moving average price of $6.54 and a 200 day moving average price of $8.50. The company has a debt-to-equity ratio of 1.90, a quick ratio of 8.13 and a current ratio of 8.34. The company has a market cap of $1.07 billion, a P/E ratio of -6.42 and a beta of 2.15. Enovix Corporation has a one year low of $4.61 and a one year high of $16.49.

Enovix Profile

Enovix Corporation (NASDAQ: ENVX) develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.

Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.