Enovix (NASDAQ:ENVX) Rating Reiterated by Cantor Fitzgerald

Enovix (NASDAQ:ENVX)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research note issued to investors on Thursday, Benzinga reports. They currently have a $30.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 364.40% from the company’s previous close.

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a $17.00 price target on shares of Enovix in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Enovix has a consensus rating of “Moderate Buy” and a consensus price target of $27.43.

Enovix Stock Up 10.6 %

NASDAQ:ENVX opened at $6.46 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15. The business has a fifty day simple moving average of $8.18 and a two-hundred day simple moving average of $10.11. Enovix has a 1 year low of $5.70 and a 1 year high of $23.90.

Enovix (NASDAQ:ENVX) last released its earnings results on Tuesday, February 20th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $7.38 million during the quarter, compared to analysts’ expectations of $3.37 million. On average, analysts anticipate that Enovix will post -1.13 earnings per share for the current year.

Insider Activity

In related news, COO Ajay Marathe sold 4,954 shares of Enovix stock in a transaction on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of the sale, the chief operating officer now owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enovix

Large investors have recently added to or reduced their stakes in the business. Beacon Capital Management LLC boosted its stake in Enovix by 66.7% during the fourth quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock valued at $31,000 after buying an additional 1,000 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Enovix during the third quarter valued at $31,000. Carmel Capital Partners LLC bought a new stake in Enovix during the third quarter valued at $34,000. Able Wealth Management LLC bought a new stake in Enovix during the fourth quarter worth about $34,000. Finally, Quest Partners LLC bought a new stake in Enovix during the fourth quarter worth about $49,000. Institutional investors own 50.92% of the company’s stock.

About Enovix

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.