Enovix Corporation $ENVX Stock Position Lifted by Swiss National Bank

Swiss National Bank lifted its position in Enovix Corporation (NASDAQ:ENVX) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 309,600 shares of the company’s stock after buying an additional 14,900 shares during the quarter. Swiss National Bank owned about 0.16% of Enovix worth $2,272,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its position in Enovix by 6.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company’s stock worth $233,000 after acquiring an additional 1,336 shares during the last quarter. DDD Partners LLC increased its stake in shares of Enovix by 5.9% in the first quarter. DDD Partners LLC now owns 31,461 shares of the company’s stock worth $231,000 after purchasing an additional 1,764 shares during the period. Harbor Investment Advisory LLC increased its stake in shares of Enovix by 6.7% in the first quarter. Harbor Investment Advisory LLC now owns 30,984 shares of the company’s stock worth $227,000 after purchasing an additional 1,949 shares during the period. Sava Infond d.o.o. lifted its position in shares of Enovix by 50.0% during the 1st quarter. Sava Infond d.o.o. now owns 6,000 shares of the company’s stock worth $44,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Enovix by 5.4% during the 1st quarter. Arizona State Retirement System now owns 45,810 shares of the company’s stock valued at $336,000 after purchasing an additional 2,346 shares during the period. 50.92% of the stock is owned by institutional investors and hedge funds.

Enovix Stock Up 2.3%

Shares of NASDAQ:ENVX opened at $10.51 on Friday. The company’s fifty day moving average is $11.73 and its 200-day moving average is $9.29. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.37. Enovix Corporation has a 52 week low of $5.27 and a 52 week high of $16.49. The company has a market capitalization of $2.07 billion, a PE ratio of -12.51 and a beta of 2.11.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. The business had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $5.48 million. Enovix had a negative net margin of 481.35% and a negative return on equity of 73.88%. Enovix’s revenue was up 98.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180–0.140 EPS. Equities research analysts predict that Enovix Corporation will post -1.01 earnings per share for the current fiscal year.

Enovix declared that its board has initiated a share buyback program on Wednesday, July 2nd that permits the company to buyback $60.00 million in shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on ENVX shares. TD Securities cut their target price on shares of Enovix from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group upped their price objective on shares of Enovix from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Wall Street Zen upgraded shares of Enovix from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Cowen restated a “hold” rating on shares of Enovix in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $12.00 price target (up previously from $9.00) on shares of Enovix in a report on Thursday, July 24th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.90.

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.