Granahan Investment Management LLC Boosts Holdings in Enovix Co. (NASDAQ:ENVX)

Granahan Investment Management LLC boosted its position in Enovix Co. (NASDAQ:ENVXGet Rating) by 1.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,524,087 shares of the company’s stock after buying an additional 37,078 shares during the period. Granahan Investment Management LLC’s holdings in Enovix were worth $36,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENVX. FNY Investment Advisers LLC purchased a new position in Enovix in the 1st quarter valued at $28,000. National Bank of Canada FI boosted its position in shares of Enovix by 20.8% during the 1st quarter. National Bank of Canada FI now owns 8,040 shares of the company’s stock worth $114,000 after purchasing an additional 1,385 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Enovix by 33.9% during the 1st quarter. Victory Capital Management Inc. now owns 14,997 shares of the company’s stock worth $136,000 after purchasing an additional 3,798 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Enovix during the 1st quarter worth $150,000. Finally, Kestra Advisory Services LLC boosted its position in shares of Enovix by 31.3% during the 1st quarter. Kestra Advisory Services LLC now owns 12,600 shares of the company’s stock worth $180,000 after purchasing an additional 3,000 shares in the last quarter. 61.75% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Trading Up 8.4 %

Shares of ENVX stock opened at $21.06 on Friday. The firm has a 50-day moving average price of $15.79 and a 200 day moving average price of $13.26. Enovix Co. has a twelve month low of $7.26 and a twelve month high of $39.48. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -20.65 and a beta of 1.96.

Enovix (NASDAQ:ENVXGet Rating) last announced its earnings results on Wednesday, August 10th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. During the same quarter last year, the company posted ($0.21) earnings per share. As a group, research analysts predict that Enovix Co. will post -0.77 earnings per share for the current year.

Insider Activity

In other news, insider Gardner Cameron Dales sold 50,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $14.00, for a total transaction of $700,000.00. Following the completion of the transaction, the insider now owns 999,565 shares of the company’s stock, valued at approximately $13,993,910. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Gardner Cameron Dales sold 50,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $14.00, for a total transaction of $700,000.00. Following the completion of the transaction, the insider now owns 999,565 shares of the company’s stock, valued at approximately $13,993,910. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Ashok Lahiri sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $20.00, for a total value of $60,000.00. Following the sale, the chief technology officer now owns 1,401,993 shares of the company’s stock, valued at approximately $28,039,860. The disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock valued at $1,050,980 in the last 90 days. 20.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ENVX has been the topic of several research analyst reports. Cowen boosted their target price on shares of Enovix from $19.00 to $36.00 in a research report on Wednesday, August 24th. Northland Securities boosted their target price on shares of Enovix from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. Craig Hallum lifted their price target on Enovix from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. started coverage on Enovix in a research note on Friday, August 5th. They set an “overweight” rating and a $20.00 price target for the company. Finally, Loop Capital lifted their price target on Enovix from $50.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Enovix currently has a consensus rating of “Buy” and a consensus price target of $39.38.

Enovix Profile

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

Further Reading

Want to see what other hedge funds are holding ENVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enovix Co. (NASDAQ:ENVXGet Rating).

Institutional Ownership by Quarter for Enovix (NASDAQ:ENVX)

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