Cantor Fitzgerald restated their overweight rating on shares of Enovix (NASDAQ:ENVX - Free Report) in a research report released on Thursday,Benzinga reports. Cantor Fitzgerald currently has a $30.00 price objective on the stock.
Other equities research analysts have also recently issued research reports about the company. Benchmark restated a "buy" rating and issued a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Janney Montgomery Scott lowered shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price objective on the stock. in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Enovix has an average rating of "Moderate Buy" and a consensus target price of $20.30.
Check Out Our Latest Stock Report on Enovix
Enovix Trading Down 8.4 %
Shares of ENVX traded down $0.91 during trading hours on Thursday, reaching $9.82. The stock had a trading volume of 6,234,848 shares, compared to its average volume of 7,128,771. The firm has a 50-day moving average of $11.15 and a 200 day moving average of $10.29. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.75 billion, a P/E ratio of -6.77 and a beta of 1.87. Enovix has a 52 week low of $5.70 and a 52 week high of $18.68.
Enovix (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. The company had revenue of $9.72 million during the quarter, compared to analysts' expectations of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. On average, sell-side analysts expect that Enovix will post -1.01 earnings per share for the current fiscal year.
Insider Buying and Selling at Enovix
In other news, Director Betsy S. Atkins sold 75,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the sale, the director now directly owns 99,497 shares of the company's stock, valued at approximately $968,105.81. This represents a 42.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.70% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in ENVX. Vanguard Group Inc. raised its holdings in Enovix by 15.1% in the 4th quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock valued at $171,458,000 after acquiring an additional 2,063,631 shares during the period. Fred Alger Management LLC increased its stake in shares of Enovix by 212.4% during the fourth quarter. Fred Alger Management LLC now owns 1,838,914 shares of the company's stock worth $19,989,000 after purchasing an additional 1,250,300 shares during the period. Raymond James Financial Inc. acquired a new stake in Enovix during the 4th quarter worth approximately $3,484,000. Frontier Capital Management Co. LLC bought a new stake in Enovix in the 4th quarter valued at $3,397,000. Finally, Geode Capital Management LLC grew its holdings in Enovix by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company's stock valued at $41,520,000 after buying an additional 235,142 shares in the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.
About Enovix
(
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Enovix Corporation designs, develops, and manufactures 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.
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