DNB Asset Management AS Acquires 166,712 Shares of Enovix Corporation $ENVX

DNB Asset Management AS increased its stake in Enovix Corporation (NASDAQ:ENVX) by 378.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 210,748 shares of the company’s stock after purchasing an additional 166,712 shares during the quarter. DNB Asset Management AS owned approximately 0.10% of Enovix worth $2,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enovix by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock valued at $722,000 after buying an additional 4,780 shares in the last quarter. NewEdge Advisors LLC raised its stake in Enovix by 10.4% during the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock worth $193,000 after acquiring an additional 2,481 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Enovix by 65.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock valued at $8,351,000 after purchasing an additional 449,934 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Enovix in the first quarter worth approximately $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Enovix by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock worth $2,628,000 after purchasing an additional 55,676 shares during the period. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. TD Cowen lowered their target price on shares of Enovix from $15.00 to $7.50 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Oppenheimer reissued an “outperform” rating on shares of Enovix in a report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Enovix in a research report on Monday, December 29th. Canaccord Genuity Group cut their target price on Enovix from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Cantor Fitzgerald lowered their price target on Enovix from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Enovix currently has an average rating of “Moderate Buy” and a consensus price target of $14.95.

Enovix Trading Down 7.0%

Shares of Enovix stock opened at $5.07 on Wednesday. Enovix Corporation has a twelve month low of $5.03 and a twelve month high of $16.49. The company has a quick ratio of 8.13, a current ratio of 8.34 and a debt-to-equity ratio of 1.90. The business has a 50-day moving average price of $6.98 and a 200-day moving average price of $8.80. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -6.58 and a beta of 2.15.

Enovix Profile

Enovix Corporation (NASDAQ: ENVX) develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.

Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.