Enovix (NASDAQ:ENVX) Stock Rating Reaffirmed by William Blair

Enovix (NASDAQ:ENVX)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a report issued on Thursday, RTT News reports.

Several other research firms have also weighed in on ENVX. JPMorgan Chase & Co. dropped their price objective on shares of Enovix from $18.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, April 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a research report on Thursday, April 25th. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 target price on shares of Enovix in a research note on Wednesday, February 21st. Finally, B. Riley cut their price target on Enovix from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.29.

Enovix Price Performance

Shares of ENVX stock traded up $2.59 during trading hours on Thursday, hitting $9.10. The company had a trading volume of 15,437,525 shares, compared to its average volume of 4,558,400. The company has a debt-to-equity ratio of 0.65, a quick ratio of 5.15 and a current ratio of 5.30. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -5.90 and a beta of 1.70. Enovix has a 12 month low of $5.70 and a 12 month high of $23.90. The firm’s fifty day moving average is $7.87 and its 200 day moving average is $10.01.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. The company had revenue of $7.38 million for the quarter, compared to analyst estimates of $3.37 million. On average, sell-side analysts predict that Enovix will post -1.13 EPS for the current fiscal year.

Insider Activity at Enovix

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the company’s stock in a transaction dated Sunday, April 14th. The shares were sold at an average price of $7.31, for a total transaction of $36,213.74. Following the transaction, the chief operating officer now directly owns 978,913 shares in the company, valued at approximately $7,155,854.03. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.30% of the stock is owned by company insiders.

Institutional Trading of Enovix

A number of institutional investors have recently bought and sold shares of the business. Capstone Investment Advisors LLC bought a new position in shares of Enovix in the 1st quarter worth $216,000. Janney Montgomery Scott LLC lifted its stake in Enovix by 19.2% in the first quarter. Janney Montgomery Scott LLC now owns 116,746 shares of the company’s stock valued at $935,000 after buying an additional 18,767 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Enovix by 2,228.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock worth $11,518,000 after buying an additional 1,376,253 shares during the last quarter. Cutter & CO Brokerage Inc. grew its position in shares of Enovix by 68.4% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 41,573 shares of the company’s stock worth $333,000 after buying an additional 16,885 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Enovix by 16.4% in the 1st quarter. Principal Financial Group Inc. now owns 18,645 shares of the company’s stock valued at $149,000 after acquiring an additional 2,633 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

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.