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

William Blair restated their outperform rating on shares of Enovix (NASDAQ:ENVX) in a research note released on Thursday, RTT News reports.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald reiterated an overweight rating and issued a $30.00 target price on shares of Enovix in a research report on Thursday, April 25th. JPMorgan Chase & Co. dropped their target price on shares of Enovix from $18.00 to $12.00 and set an overweight rating on the stock in a report on Friday, April 26th. Canaccord Genuity Group reaffirmed a buy rating and issued a $17.00 price target on shares of Enovix in a report on Wednesday, February 21st. Finally, B. Riley dropped their price objective on shares of Enovix from $18.00 to $16.00 and set a buy rating on the stock in a research note on Tuesday, April 30th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Enovix presently has an average rating of Moderate Buy and a consensus target price of $18.33.

Enovix Price Performance

NASDAQ ENVX opened at $10.09 on Thursday. The company’s fifty day simple moving average is $7.88 and its 200-day simple moving average is $10.00. Enovix has a 52 week low of $5.70 and a 52 week high of $23.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results 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). The company had revenue of $7.38 million during the quarter, compared to analyst estimates of $3.37 million. Enovix had a negative net margin of 1,448.90% and a negative return on equity of 83.66%. As a group, research analysts expect that Enovix will post -1.13 earnings per share for the current year.

Insider Transactions at Enovix

In other Enovix news, COO Ajay Marathe sold 4,954 shares of the business’s stock in a transaction dated Sunday, April 14th. The shares were sold at an average price of $7.31, for a total value of $36,213.74. Following the sale, the chief operating officer now directly owns 978,913 shares in the company, valued at $7,155,854.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Enovix

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Enovix during the third quarter valued at $31,000. Beacon Capital Management LLC increased its position in shares of Enovix by 66.7% in the fourth quarter. Beacon Capital Management LLC now owns 2,500 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in shares of Enovix during the third quarter valued at approximately $34,000. Able Wealth Management LLC purchased a new stake in shares of Enovix in the 4th quarter valued at approximately $34,000. Finally, Quest Partners LLC acquired a new position in Enovix in the 4th quarter worth approximately $49,000. 50.92% of the stock is 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.