Stock Traders Purchase Large Volume of Enovix Call Options (NASDAQ:ENVX)

Enovix Corporation (NASDAQ:ENVX) saw unusually large options trading activity on Thursday. Investors acquired 27,134 call options on the stock. This is an increase of approximately 57% compared to the average daily volume of 17,266 call options.

Institutional Investors Weigh In On Enovix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC acquired a new position in Enovix in the second quarter valued at approximately $13,206,000. Electron Capital Partners LLC boosted its holdings in shares of Enovix by 18.6% in the 1st quarter. Electron Capital Partners LLC now owns 6,712,763 shares of the company’s stock valued at $49,272,000 after buying an additional 1,054,029 shares in the last quarter. CenterBook Partners LP boosted its holdings in shares of Enovix by 71.0% in the 1st quarter. CenterBook Partners LP now owns 1,736,570 shares of the company’s stock valued at $12,746,000 after buying an additional 721,309 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Enovix by 65.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock worth $8,351,000 after purchasing an additional 449,934 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Enovix during the first quarter worth about $3,030,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Up 4.9%

Shares of Enovix stock opened at $11.65 on Friday. The company has a quick ratio of 4.11, a current ratio of 4.37 and a debt-to-equity ratio of 0.82. Enovix has a 52-week low of $5.27 and a 52-week high of $16.49. The company has a market capitalization of $2.29 billion, a P/E ratio of -13.87 and a beta of 2.08. The company has a 50 day moving average of $10.48 and a 200 day moving average of $9.29.

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

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

Analyst Upgrades and Downgrades

ENVX has been the topic of several recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $12.00 price objective (up from $9.00) on shares of Enovix in a report on Thursday, July 24th. Benchmark boosted their target price on Enovix from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Cowen restated a “hold” rating on shares of Enovix in a research note on Tuesday, July 8th. Canaccord Genuity Group lifted their price objective on Enovix from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Finally, TD Cowen raised Enovix to a “hold” rating and increased their target price for the stock from $7.00 to $15.00 in a research note on Monday, July 7th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.00.

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.