Enovix Co. (NASDAQ:ENVX) Stock Position Raised by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 1.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,093,710 shares of the company's stock after buying an additional 164,717 shares during the quarter. Vanguard Group Inc. owned 7.71% of Enovix worth $104,881,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENVX. Nwam LLC purchased a new stake in Enovix in the 1st quarter valued at about $93,000. Blair William & Co. IL purchased a new position in Enovix during the 1st quarter worth $268,000. Doheny Asset Management CA increased its holdings in Enovix by 10.3% during the 1st quarter. Doheny Asset Management CA now owns 289,141 shares of the company's stock worth $2,316,000 after purchasing an additional 27,076 shares during the period. ProShare Advisors LLC raised its position in Enovix by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 24,915 shares of the company's stock valued at $200,000 after purchasing an additional 1,960 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of Enovix by 14.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 26,187 shares of the company's stock worth $210,000 after purchasing an additional 3,384 shares during the period. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enovix

In related news, Director Gregory Reichow sold 7,500 shares of Enovix stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $12.14, for a total transaction of $91,050.00. Following the completion of the transaction, the director now directly owns 8,129 shares of the company's stock, valued at $98,686.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 17.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of Enovix in a research report on Thursday. Canaccord Genuity Group boosted their price target on Enovix from $17.00 to $20.00 and gave the company a "buy" rating in a report on Thursday. Benchmark started coverage on Enovix in a report on Monday, July 22nd. They set a "buy" rating and a $25.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of Enovix from $18.00 to $12.00 and set an "overweight" rating on the stock in a research note on Friday, April 26th. Finally, Craig Hallum lifted their price objective on Enovix from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $19.57.

Enovix Stock Performance

Enovix stock traded up $0.32 during trading hours on Friday, reaching $11.97. 9,314,949 shares of the stock were exchanged, compared to its average volume of 5,957,213. The stock has a market cap of $2.03 billion, a P/E ratio of -8.93 and a beta of 2.04. The firm's 50 day moving average is $13.90 and its 200 day moving average is $10.66. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.77 and a current ratio of 4.89. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $19.37.

Enovix (NASDAQ:ENVX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.05). The firm had revenue of $5.27 million during the quarter, compared to analyst estimates of $4.16 million. Enovix had a negative net margin of 1,434.34% and a negative return on equity of 84.28%. Analysts predict that Enovix Co. will post -1.14 EPS for the current fiscal year.

Enovix Profile

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.