Enovix (NASDAQ:ENVX) Given New $18.00 Price Target at Craig Hallum

Enovix (NASDAQ:ENVX) had its target price decreased by Craig Hallum from $20.00 to $18.00 in a report published on Thursday morning,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Enovix in a report on Thursday. Finally, Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

Enovix Trading Up 2.5 %

Shares of ENVX stock opened at $11.47 on Thursday. Enovix has a 52-week low of $5.70 and a 52-week high of $18.68. The business’s fifty day moving average is $11.11 and its 200 day moving average is $10.30. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

Enovix (NASDAQ:ENVX) 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. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The firm had revenue of $9.72 million for the quarter, compared to analysts’ expectations of $8.77 million. Equities research analysts forecast that Enovix will post -1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now owns 99,497 shares in the company, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enovix

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Enovix by 15.1% in the fourth quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company’s stock valued at $171,458,000 after purchasing an additional 2,063,631 shares during the last quarter. Electron Capital Partners LLC increased its stake in shares of Enovix by 0.5% in the fourth quarter. Electron Capital Partners LLC now owns 5,658,734 shares of the company’s stock worth $61,510,000 after buying an additional 29,109 shares during the period. Geode Capital Management LLC raised its holdings in Enovix by 6.6% during 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 during the last quarter. Royal Bank of Canada boosted its position in Enovix by 1.5% during the 4th quarter. Royal Bank of Canada now owns 1,933,073 shares of the company’s stock valued at $21,012,000 after buying an additional 28,591 shares during the period. Finally, Fred Alger Management LLC grew its holdings in Enovix by 212.4% in the 4th quarter. Fred Alger Management LLC now owns 1,838,914 shares of the company’s stock worth $19,989,000 after acquiring an additional 1,250,300 shares during the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Company 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.