Handelsbanken Fonder AB Sells 1,106,493 Shares of Enovix Corporation $ENVX

Handelsbanken Fonder AB cut its holdings in Enovix Corporation (NASDAQ:ENVX) by 95.2% during the second quarter, Holdings Channel.com reports. The firm owned 56,200 shares of the company’s stock after selling 1,106,493 shares during the quarter. Handelsbanken Fonder AB’s holdings in Enovix were worth $341,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in Enovix during the fourth quarter worth $30,000. Parallel Advisors LLC raised its position in Enovix by 51.9% during the third quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock valued at $39,000 after purchasing an additional 1,342 shares in the last quarter. CWM LLC increased its position in Enovix by 95.4% during the 4th quarter. CWM LLC now owns 6,081 shares of the company’s stock worth $44,000 after purchasing an additional 2,969 shares in the last quarter. Calamos Advisors LLC bought a new position in Enovix in the 1st quarter valued at approximately $60,000. Finally, Gateway Wealth Partners LLC bought a new stake in Enovix during the 1st quarter worth approximately $68,000. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Up 3.4%

Shares of NASDAQ:ENVX opened at $3.38 on Friday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 9.37 and a current ratio of 9.71. Enovix Corporation has a 52-week low of $3.06 and a 52-week high of $14.21. The business’s 50 day simple moving average is $4.99 and its two-hundred day simple moving average is $5.74. The firm has a market cap of $741.74 million, a P/E ratio of -4.17 and a beta of 2.32.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. The company had revenue of $9.02 million during the quarter, compared to the consensus estimate of $8.43 million. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. As a group, research analysts forecast that Enovix Corporation will post -0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ENVX shares. William Blair lowered Enovix from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Bank of America restated a “neutral” rating and set a $5.00 price objective on shares of Enovix in a research report on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Enovix from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. lowered shares of Enovix from a “neutral” rating to an “underweight” rating in a report on Wednesday, May 6th. One equities research 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 issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.77.

Enovix Company 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.