Enovix Co. (NASDAQ:ENVX) Director Buys $382,493.04 in Stock

Enovix Co. (NASDAQ:ENVX – Get Rating) Director Thurman J. Rodgers purchased 34,899 shares of the stock in a transaction on Thursday, March 16th. The stock was acquired at an average cost of $10.96 per share, with a total value of $382,493.04. Following the acquisition, the director now owns 629,144 shares of the company’s stock, valued at approximately $6,895,418.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Enovix Price Performance

ENVX opened at $11.23 on Friday. The firm has a fifty day moving average price of $8.84 and a 200 day moving average price of $13.07. Enovix Co. has a 1 year low of $6.50 and a 1 year high of $26.30. The stock has a market cap of $1.77 billion, a P/E ratio of -9.85 and a beta of 0.99.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ENVX. B. Riley lowered their target price on shares of Enovix from $19.00 to $18.00 in a research note on Wednesday, January 4th. Piper Sandler lifted their price objective on shares of Enovix from $22.50 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 23rd. Craig Hallum cut their target price on Enovix from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, February 23rd. EF Hutton Acquisition Co. I reissued a “buy” rating and issued a $18.00 price objective on shares of Enovix in a report on Thursday, February 23rd. Finally, Canaccord Genuity Group initiated coverage on Enovix in a report on Wednesday, January 11th. They set a “buy” rating and a $20.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $27.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Endurance Wealth Management Inc. purchased a new position in shares of Enovix in the 4th quarter valued at about $25,000. Belpointe Asset Management LLC purchased a new position in shares of Enovix during the 4th quarter valued at approximately $25,000. Macquarie Group Ltd. acquired a new stake in Enovix in the 3rd quarter valued at $26,000. Quantbot Technologies LP purchased a new position in Enovix during the second quarter valued at $26,000. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Enovix in the third quarter valued at about $48,000. Hedge funds and other institutional investors own 55.62% of the company’s stock.

Enovix Company Profile

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Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.