Intellectus Partners LLC Acquires 46,872 Shares of Enovix Co. (NASDAQ:ENVX)

Intellectus Partners LLC lifted its holdings in Enovix Co. (NASDAQ:ENVX) by 84.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,322 shares of the company’s stock after buying an additional 46,872 shares during the quarter. Intellectus Partners LLC owned about 0.05% of Enovix worth $751,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Enovix by 11.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 53,096 shares of the company’s stock worth $390,000 after acquiring an additional 5,471 shares during the last quarter. Channel Wealth LLC increased its holdings in shares of Enovix by 19.9% in the first quarter. Channel Wealth LLC now owns 187,612 shares of the company’s stock valued at $1,377,000 after purchasing an additional 31,177 shares in the last quarter. Harbor Investment Advisory LLC raised its position in Enovix by 6.7% in the 1st quarter. Harbor Investment Advisory LLC now owns 30,984 shares of the company’s stock worth $227,000 after purchasing an additional 1,949 shares during the last quarter. Strong Tower Advisory Services raised its position in Enovix by 93.1% in the 1st quarter. Strong Tower Advisory Services now owns 144,045 shares of the company’s stock worth $1,057,000 after purchasing an additional 69,435 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Enovix by 7.1% during the 1st quarter. Rhumbline Advisers now owns 234,685 shares of the company’s stock worth $1,723,000 after buying an additional 15,615 shares in the last quarter. 50.92% of the stock is owned by institutional investors.

Enovix Stock Performance

Shares of ENVX stock opened at $8.31 on Friday. The stock has a market cap of $1.60 billion, a PE ratio of -5.73 and a beta of 2.00. The stock has a 50-day moving average of $6.95 and a 200-day moving average of $8.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. Enovix Co. has a one year low of $5.27 and a one year high of $18.68.

Analyst Ratings Changes

ENVX has been the subject of several research reports. TD Securities lowered their target price on Enovix from $10.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Benchmark lowered their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. B. Riley dropped their price objective on Enovix from $17.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Enovix from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.27.

Enovix Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.