Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Enovix Co. (NASDAQ:ENVX)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Enovix Co. (NASDAQ:ENVX) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,413 shares of the company’s stock after purchasing an additional 1,336 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Enovix were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ENVX. Coppell Advisory Solutions LLC purchased a new stake in shares of Enovix during the 4th quarter worth $27,000. Sava Infond d.o.o. purchased a new stake in shares of Enovix during the 4th quarter worth $43,000. Hollencrest Capital Management lifted its position in Enovix by 61.4% in the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock valued at $57,000 after acquiring an additional 2,000 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Enovix in the fourth quarter valued at $65,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Enovix in the fourth quarter valued at $87,000. 50.92% of the stock is owned by hedge funds and other institutional investors.

Enovix Trading Up 7.8%

Shares of ENVX opened at $8.86 on Tuesday. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average is $7.24 and its two-hundred day moving average is $8.92. Enovix Co. has a twelve month low of $5.27 and a twelve month high of $18.68. The firm has a market capitalization of $1.70 billion, a P/E ratio of -6.11 and a beta of 2.00.

Analyst Upgrades and Downgrades

ENVX has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research report on Thursday, February 20th. TD Securities reduced their price target on shares of Enovix from $10.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Benchmark reduced their price target on shares of Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. B. Riley reduced their price target on shares of Enovix from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Enovix from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enovix currently has an average rating of “Moderate Buy” and an average price target of $17.27.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.