Enovix Co. (NASDAQ:ENVX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Enovix Co. (NASDAQ:ENVXGet Rating) have been given a consensus rating of “Buy” by the six ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $33.00.

ENVX has been the subject of a number of recent research reports. Zacks Investment Research upgraded Enovix from a “sell” rating to a “hold” rating in a research note on Tuesday, January 11th. Craig Hallum reduced their price objective on Enovix from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, March 4th. Piper Sandler cut their price target on Enovix from $39.00 to $35.00 in a research note on Tuesday, January 11th. Finally, Cowen began coverage on Enovix in a research note on Tuesday, January 4th. They issued an “outperform” rating and a $32.00 price target for the company.

In other news, CEO Harrold J. Rust bought 3,500 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were bought at an average price of $14.50 per share, with a total value of $50,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Daniel Mccranie bought 20,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The stock was purchased at an average cost of $14.57 per share, for a total transaction of $291,400.00. The disclosure for this purchase can be found here.

Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC purchased a new stake in shares of Enovix during the third quarter worth $70,000. Moody Lynn & Lieberson LLC purchased a new stake in shares of Enovix during the fourth quarter worth $770,000. CAPROCK Group Inc. purchased a new stake in shares of Enovix during the first quarter worth $305,000. Finally, Essex Investment Management Co. LLC increased its position in shares of Enovix by 68.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 163,944 shares of the company’s stock worth $4,472,000 after acquiring an additional 66,823 shares during the period. 56.18% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ ENVX opened at $11.71 on Thursday. The stock has a 50-day simple moving average of $14.47 and a two-hundred day simple moving average of $21.05. Enovix has a fifty-two week low of $11.22 and a fifty-two week high of $39.48.

Enovix (NASDAQ:ENVXGet Rating) last released its quarterly earnings data on Thursday, March 3rd. The company reported ($0.60) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.44). Analysts forecast that Enovix will post -0.67 EPS for the current year.

About Enovix (Get Rating)

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was incorporated in 2006 and is headquartered in Fremont, California.

Recommended Stories

Analyst Recommendations for Enovix (NASDAQ:ENVX)

Receive News & Ratings for Enovix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enovix and related companies with MarketBeat.com's FREE daily email newsletter.