Rodgers Silicon Valley Acquisition (NASDAQ:ENVX) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Rodgers Silicon Valley Acquisition (NASDAQ:ENVX) from a sell rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Enovix Corporation involved in the design and manufacture of 3D Silicon(TM) Lithium-ion batteries. The company’s initial goal is to provide designers of mobile devices. It also involved in developing 3D cell technology and production process for the electric vehicle and energy storage markets. Enovix Corporation, formerly known as Rodgers Silicon Valley Acquisition Corp., is based in FREMONT, Calif. “

A number of other brokerages have also recently commented on ENVX. Craig Hallum started coverage on shares of Rodgers Silicon Valley Acquisition in a report on Thursday, December 2nd. They set a buy rating and a $50.00 target price for the company. Oppenheimer increased their price objective on shares of Rodgers Silicon Valley Acquisition from $32.00 to $38.00 and gave the stock an outperform rating in a research note on Tuesday, November 9th. Piper Sandler dropped their target price on shares of Rodgers Silicon Valley Acquisition from $39.00 to $35.00 in a research report on Tuesday. Finally, Cowen began coverage on shares of Rodgers Silicon Valley Acquisition in a research report on Tuesday, January 4th. They set an outperform rating and a $32.00 target price for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $36.00.

ENVX opened at $19.08 on Tuesday. The firm’s 50 day moving average is $28.61. Rodgers Silicon Valley Acquisition has a twelve month low of $11.65 and a twelve month high of $39.48.

Rodgers Silicon Valley Acquisition (NASDAQ:ENVX) last released its quarterly earnings data on Sunday, November 7th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. As a group, analysts anticipate that Rodgers Silicon Valley Acquisition will post -0.65 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Rodgers Silicon Valley Acquisition stock. Parallel Advisors LLC acquired a new position in Rodgers Silicon Valley Acquisition Corp. (NASDAQ:ENVX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,699 shares of the company’s stock, valued at approximately $70,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

About Rodgers Silicon Valley Acquisition

Rodgers Silicon Valley Acquisition Corp entered into a definitive agreement and plan of merger for a business combination with Enovix Corporation.

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Analyst Recommendations for Rodgers Silicon Valley Acquisition (NASDAQ:ENVX)

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