Rhumbline Advisers Grows Holdings in Enovix Corporation (NASDAQ:ENVX)

Rhumbline Advisers boosted its holdings in shares of Enovix Corporation (NASDAQ:ENVX) by 7.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 234,685 shares of the company’s stock after purchasing an additional 15,615 shares during the period. Rhumbline Advisers owned approximately 0.12% of Enovix worth $1,723,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Coppell Advisory Solutions LLC acquired a new position in shares of Enovix in the fourth quarter valued at approximately $27,000. Sava Infond d.o.o. purchased a new position in shares of Enovix during the 4th quarter worth approximately $43,000. Parallel Advisors LLC lifted its holdings in shares of Enovix by 103.8% in the 1st quarter. Parallel Advisors LLC now owns 7,557 shares of the company’s stock valued at $55,000 after buying an additional 3,849 shares during the period. Hollencrest Capital Management grew its holdings in Enovix by 61.4% during the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock worth $57,000 after acquiring an additional 2,000 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Enovix in the fourth quarter valued at about $65,000. 50.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Enovix Stock Down 4.7%

Shares of NASDAQ:ENVX opened at $8.44 on Wednesday. The stock has a 50-day simple moving average of $7.27 and a 200-day simple moving average of $8.92. The stock has a market capitalization of $1.62 billion, a P/E ratio of -6.54 and a beta of 2.00. Enovix Corporation has a 1 year low of $5.27 and a 1 year high of $18.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.49 and a current ratio of 4.68.

Enovix 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.