Enovix Corporation (NASDAQ:ENVX) Given Consensus Rating of “Hold” by Analysts

Shares of Enovix Corporation (NASDAQ:ENVX) have been assigned an average recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $17.50.

Several brokerages recently weighed in on ENVX. Oppenheimer set a $24.00 price target on Enovix in a research note on Thursday, November 6th. Cantor Fitzgerald dropped their target price on shares of Enovix from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. decreased their price target on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Benchmark lifted their price target on shares of Enovix from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Enovix in a research note on Friday, October 31st.

Insider Activity at Enovix

In related news, COO Ajay Marathe sold 18,614 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $13.00, for a total value of $241,982.00. Following the sale, the chief operating officer owned 1,002,684 shares in the company, valued at $13,034,892. This represents a 1.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 14.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enovix

A number of institutional investors have recently modified their holdings of ENVX. Principal Financial Group Inc. raised its position in shares of Enovix by 7.6% in the 3rd quarter. Principal Financial Group Inc. now owns 12,613 shares of the company’s stock worth $126,000 after purchasing an additional 895 shares during the last quarter. Franklin Resources Inc. increased its stake in Enovix by 1.1% during the 2nd quarter. Franklin Resources Inc. now owns 96,239 shares of the company’s stock valued at $995,000 after purchasing an additional 1,093 shares in the last quarter. tru Independence LLC raised its holdings in Enovix by 0.4% in the second quarter. tru Independence LLC now owns 295,690 shares of the company’s stock worth $3,057,000 after buying an additional 1,155 shares during the last quarter. Intellectus Partners LLC lifted its stake in shares of Enovix by 1.2% in the second quarter. Intellectus Partners LLC now owns 103,522 shares of the company’s stock worth $1,070,000 after buying an additional 1,200 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Enovix by 2.7% during the third quarter. Private Advisor Group LLC now owns 46,519 shares of the company’s stock valued at $464,000 after buying an additional 1,242 shares during the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Enovix Trading Up 5.1%

NASDAQ:ENVX opened at $7.47 on Friday. The company has a 50-day moving average price of $10.59 and a 200-day moving average price of $10.30. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -9.22 and a beta of 2.09. The company has a current ratio of 9.72, a quick ratio of 9.47 and a debt-to-equity ratio of 1.74. Enovix has a 12 month low of $5.27 and a 12 month high of $16.49.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Tuesday, September 9th. The company reported ($0.13) EPS for the quarter. Enovix had a negative return on equity of 61.78% and a negative net margin of 525.93%.The company had revenue of $7.47 million during the quarter. Equities analysts predict that Enovix will post -1.01 EPS for the current year.

About Enovix

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.