Enovix (NASDAQ:ENVX) Trading Up 9.8%

Enovix Co. (NASDAQ:ENVXGet Rating)’s stock price was up 9.8% on Friday . The stock traded as high as $13.04 and last traded at $13.02. Approximately 52,002 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 1,788,855 shares. The stock had previously closed at $11.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ENVX shares. Cowen dropped their price objective on shares of Enovix from $24.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, June 24th. Cowen decreased their target price on Enovix from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, June 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $29.60.

Enovix Trading Up 12.3 %

The business has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $12.47. The company has a market cap of $2.09 billion, a PE ratio of -12.69 and a beta of 2.18.

Enovix (NASDAQ:ENVXGet Rating) last issued its earnings results on Wednesday, May 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Equities analysts expect that Enovix Co. will post -0.82 EPS for the current year.

Insiders Place Their Bets

In other Enovix news, Director Thurman J. Rodgers acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was purchased at an average cost of $9.00 per share, with a total value of $900,000.00. Following the transaction, the director now owns 400,000 shares of the company’s stock, valued at $3,600,000. The transaction was disclosed in a filing with the SEC, which is available at this link.

Institutional Trading of Enovix

Hedge funds and other institutional investors have recently modified their holdings of the business. Electron Capital Partners LLC grew its position in Enovix by 2.5% in the 1st quarter. Electron Capital Partners LLC now owns 7,066,553 shares of the company’s stock valued at $100,840,000 after acquiring an additional 170,248 shares in the last quarter. Summit Partners Public Asset Management LLC boosted its stake in shares of Enovix by 1.2% in the 1st quarter. Summit Partners Public Asset Management LLC now owns 3,582,986 shares of the company’s stock valued at $51,129,000 after buying an additional 41,990 shares during the period. Vanguard Group Inc. boosted its stake in shares of Enovix by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 3,059,143 shares of the company’s stock valued at $43,654,000 after buying an additional 157,167 shares during the period. Granahan Investment Management LLC boosted its stake in shares of Enovix by 1.5% in the 1st quarter. Granahan Investment Management LLC now owns 2,524,087 shares of the company’s stock valued at $36,019,000 after buying an additional 37,078 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Enovix by 1.2% in the 1st quarter. BlackRock Inc. now owns 1,498,054 shares of the company’s stock valued at $21,376,000 after buying an additional 18,009 shares during the period. 56.82% of the stock is owned by institutional investors and hedge funds.

Enovix Company Profile

(Get Rating)

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.

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