Refined Wealth Management Grows Position in Enovix Corporation $ENVX

Refined Wealth Management grew its position in shares of Enovix Corporation (NASDAQ:ENVX) by 2.3% in the second quarter, HoldingsChannel reports. The fund owned 691,161 shares of the company’s stock after acquiring an additional 15,712 shares during the period. Enovix makes up 4.9% of Refined Wealth Management’s portfolio, making the stock its 9th largest position. Refined Wealth Management’s holdings in Enovix were worth $7,147,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ENVX. tru Independence LLC lifted its position in shares of Enovix by 0.4% in the second quarter. tru Independence LLC now owns 295,690 shares of the company’s stock worth $3,057,000 after purchasing an additional 1,155 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Enovix by 6.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company’s stock valued at $233,000 after buying an additional 1,336 shares during the last quarter. DDD Partners LLC lifted its position in Enovix by 5.9% during the 1st quarter. DDD Partners LLC now owns 31,461 shares of the company’s stock worth $231,000 after buying an additional 1,764 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Enovix by 6.7% during the 1st quarter. Harbor Investment Advisory LLC now owns 30,984 shares of the company’s stock worth $227,000 after buying an additional 1,949 shares during the last quarter. Finally, Sava Infond d.o.o. grew its holdings in shares of Enovix by 50.0% in the 1st quarter. Sava Infond d.o.o. now owns 6,000 shares of the company’s stock valued at $44,000 after acquiring an additional 2,000 shares in the last quarter. 50.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Cowen reiterated a “hold” rating on shares of Enovix in a report on Tuesday, July 8th. Craig Hallum reiterated a “buy” rating and set a $15.00 price objective (up previously from $12.00) on shares of Enovix in a research note on Tuesday, July 8th. Wall Street Zen downgraded Enovix from a “hold” rating to a “sell” rating in a report on Saturday, September 6th. TD Cowen upgraded shares of Enovix to a “hold” rating and boosted their target price for the stock from $7.00 to $15.00 in a report on Monday, July 7th. Finally, Canaccord Genuity Group increased their price target on shares of Enovix from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Enovix Stock Performance

Shares of NASDAQ ENVX opened at $10.09 on Monday. The company has a current ratio of 4.37, a quick ratio of 4.11 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $1.98 billion, a P/E ratio of -12.01 and a beta of 2.09. Enovix Corporation has a 12 month low of $5.27 and a 12 month high of $16.49. The stock has a 50 day moving average of $10.79 and a 200-day moving average of $9.24.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. Enovix had a negative return on equity of 73.88% and a negative net margin of 481.35%.The business had revenue of $7.50 million during the quarter, compared to the consensus estimate of $5.48 million. During the same quarter last year, the firm posted ($0.14) EPS. The company’s quarterly revenue was up 98.2% on a year-over-year basis. Enovix has set its Q3 2025 guidance at -0.180–0.140 EPS. As a group, equities research analysts predict that Enovix Corporation will post -1.01 EPS for the current year.

Enovix declared that its Board of Directors has approved a share buyback plan on Wednesday, July 2nd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Enovix Company Profile

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.