Granahan Investment Management LLC Reduces Stock Holdings in Enovix Corporation $ENVX

Granahan Investment Management LLC lowered its position in Enovix Corporation (NASDAQ:ENVX) by 19.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,589,586 shares of the company’s stock after selling 374,979 shares during the quarter. Granahan Investment Management LLC’s holdings in Enovix were worth $8,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Enovix by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock valued at $722,000 after acquiring an additional 4,780 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Enovix by 10.4% during the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock valued at $193,000 after acquiring an additional 2,481 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Enovix by 65.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock worth $8,351,000 after acquiring an additional 449,934 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Enovix in the first quarter valued at about $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Enovix by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock valued at $2,628,000 after purchasing an additional 55,676 shares in the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Price Performance

Enovix stock opened at $3.95 on Friday. Enovix Corporation has a 12-month low of $3.90 and a 12-month high of $15.40. The stock has a market capitalization of $861.69 million, a P/E ratio of -4.76 and a beta of 2.26. The firm’s 50-day moving average is $6.21 and its two-hundred day moving average is $6.25. The company has a debt-to-equity ratio of 2.14, a current ratio of 10.97 and a quick ratio of 10.65.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $7.60 million during the quarter, compared to analyst estimates of $6.95 million. Enovix had a negative net margin of 499.64% and a negative return on equity of 64.28%. The company’s revenue was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.15) earnings per share. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. Equities analysts predict that Enovix Corporation will post -0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ENVX. Wall Street Zen raised shares of Enovix from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Oppenheimer lowered their target price on Enovix from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. JPMorgan Chase & Co. downgraded Enovix from a “neutral” rating to an “underweight” rating in a research report on Wednesday, May 6th. TD Cowen cut their price target on Enovix from $7.00 to $5.50 and set a “hold” rating for the company in a report on Friday. Finally, Craig Hallum cut their price target on Enovix from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.50.

Enovix Profile

Enovix Corporation (NASDAQ: ENVX) develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.

Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.