Cantor Fitzgerald reissued their overweight rating on shares of Enovix (NASDAQ:ENVX – Free Report) in a report published on Thursday, Benzinga reports. They currently have a $30.00 price objective on the stock.
ENVX has been the subject of several other reports. JPMorgan Chase & Co. reduced their target price on Enovix from $18.00 to $12.00 and set an overweight rating for the company in a report on Friday, April 26th. Craig Hallum reduced their target price on Enovix from $20.00 to $15.00 and set a buy rating for the company in a report on Thursday, May 2nd. Benchmark started coverage on Enovix in a report on Monday, July 22nd. They issued a buy rating and a $25.00 target price for the company. William Blair restated an outperform rating on shares of Enovix in a report on Thursday, May 2nd. Finally, B. Riley upgraded Enovix to a strong-buy rating in a report on Tuesday, June 25th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $19.57.
Get Our Latest Stock Report on Enovix
Enovix Stock Up 2.7 %
Enovix (NASDAQ:ENVX – Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.05). Enovix had a negative return on equity of 84.28% and a negative net margin of 1,434.34%. The company had revenue of $5.27 million during the quarter, compared to analyst estimates of $4.16 million. On average, equities research analysts expect that Enovix will post -1.14 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Gregory Reichow sold 7,500 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 8,129 shares in the company, valued at $98,686.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 17.30% of the stock is currently owned by company insiders.
Institutional Trading of Enovix
A number of institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Enovix by 2,228.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock valued at $11,518,000 after acquiring an additional 1,376,253 shares during the period. Electron Capital Partners LLC grew its position in Enovix by 20.0% in the fourth quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company’s stock valued at $40,556,000 after acquiring an additional 540,399 shares during the period. Vanguard Group Inc. grew its position in Enovix by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 12,928,993 shares of the company’s stock valued at $161,871,000 after acquiring an additional 513,508 shares during the period. Masters Capital Management LLC grew its position in Enovix by 18.2% in the fourth quarter. Masters Capital Management LLC now owns 1,300,000 shares of the company’s stock valued at $16,276,000 after acquiring an additional 200,000 shares during the period. Finally, PBMares Wealth Management LLC grew its position in Enovix by 382.2% in the first quarter. PBMares Wealth Management LLC now owns 217,000 shares of the company’s stock valued at $1,738,000 after acquiring an additional 172,000 shares during the period. 50.92% of the stock is currently owned by 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.
Read More
- Five stocks we like better than Enovix
- About the Markup Calculator
- Market Crash? No Problem for DoorDash Stock’s Impressive Earnings
- What Investors Need to Know to Beat the Market
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- What Does Downgrade Mean in Investing?
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
Receive News & Ratings for Enovix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enovix and related companies with MarketBeat.com's FREE daily email newsletter.