Enovix Co. (NASDAQ:ENVX - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $5.98, but opened at $6.39. Enovix shares last traded at $6.13, with a volume of 767,083 shares changing hands.
Wall Street Analysts Forecast Growth
ENVX has been the subject of several recent research reports. Craig Hallum reduced their price objective on Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Benchmark lowered their price objective on shares of Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 target price on shares of Enovix in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.30.
Get Our Latest Stock Report on ENVX
Enovix Price Performance
The business has a fifty day moving average of $8.11 and a two-hundred day moving average of $9.71. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -4.25 and a beta of 1.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77.
Enovix (NASDAQ:ENVX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The business had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. As a group, research analysts predict that Enovix Co. will post -1.01 EPS for the current fiscal year.
Insider Activity
In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the transaction, the chief executive officer now owns 2,045,301 shares in the company, valued at $19,123,564.35. This trade represents a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.70% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Enovix
Several institutional investors and hedge funds have recently bought and sold shares of the company. Fortis Advisors LLC bought a new position in Enovix in the first quarter valued at approximately $90,000. Parkside Investments LLC bought a new stake in shares of Enovix during the first quarter worth $1,671,000. Sonora Investment Management Group LLC increased its holdings in shares of Enovix by 17.6% during the first quarter. Sonora Investment Management Group LLC now owns 324,449 shares of the company's stock worth $2,381,000 after buying an additional 48,548 shares in the last quarter. Flagship Private Wealth LLC lifted its stake in shares of Enovix by 35.4% in the 1st quarter. Flagship Private Wealth LLC now owns 17,994 shares of the company's stock valued at $132,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Intellectus Partners LLC boosted its holdings in shares of Enovix by 84.5% during the 1st quarter. Intellectus Partners LLC now owns 102,322 shares of the company's stock valued at $751,000 after acquiring an additional 46,872 shares in the last quarter. Institutional investors own 50.92% of the company's stock.
Enovix Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Enovix, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enovix wasn't on the list.
While Enovix currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
