TTP Investments Inc. Has $2.01 Million Stock Position in Enovix Corporation (NASDAQ:ENVX)

TTP Investments Inc. trimmed its position in Enovix Corporation (NASDAQ:ENVX) by 5.8% in the first quarter, Holdings Channel.com reports. The firm owned 274,200 shares of the company’s stock after selling 16,892 shares during the period. Enovix comprises approximately 0.8% of TTP Investments Inc.’s portfolio, making the stock its 20th largest holding. TTP Investments Inc.’s holdings in Enovix were worth $2,013,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENVX. Coppell Advisory Solutions LLC bought a new position in Enovix during the fourth quarter worth about $27,000. Sava Infond d.o.o. bought a new position in Enovix during the fourth quarter worth about $43,000. Parallel Advisors LLC boosted its holdings in Enovix by 103.8% during the first quarter. Parallel Advisors LLC now owns 7,557 shares of the company’s stock worth $55,000 after buying an additional 3,849 shares during the last quarter. Hollencrest Capital Management boosted its holdings in Enovix by 61.4% during the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock worth $57,000 after buying an additional 2,000 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in Enovix during the fourth quarter worth about $65,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ENVX. TD Securities reduced their target price on Enovix from $10.00 to $7.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their target price on Enovix from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of Enovix in a report on Thursday, February 20th. Benchmark cut their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Craig Hallum cut their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.27.

Enovix Trading Up 0.7%

NASDAQ:ENVX opened at $8.50 on Thursday. Enovix Corporation has a fifty-two week low of $5.27 and a fifty-two week high of $18.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.68 and a quick ratio of 4.49. The stock has a market capitalization of $1.63 billion, a PE ratio of -6.59 and a beta of 2.00. The business’s 50-day simple moving average is $7.31 and its 200-day simple moving average is $8.91.

Enovix Company 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.