Enovix Corporation (NASDAQ:ENVX) Receives Average Rating of “Moderate Buy” from Analysts

Enovix Corporation (NASDAQ:ENVX) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $17.27.

A number of analysts recently issued reports on ENVX shares. 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. JPMorgan Chase & Co. lowered their target price on Enovix from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Benchmark cut their price target on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, B. Riley decreased their price target on Enovix from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th.

Hedge Funds Weigh In On Enovix

A number of hedge funds have recently bought and sold shares of ENVX. Coppell Advisory Solutions LLC purchased a new position in Enovix in the 4th quarter worth approximately $27,000. Stone House Investment Management LLC purchased a new position in Enovix during the first quarter worth approximately $37,000. Sava Infond d.o.o. acquired a new position in Enovix during the fourth quarter worth $43,000. Parallel Advisors LLC grew its holdings in Enovix by 103.8% in the 1st quarter. Parallel Advisors LLC now owns 7,557 shares of the company’s stock valued at $55,000 after buying an additional 3,849 shares in the last quarter. Finally, Hollencrest Capital Management increased its stake in shares of Enovix by 61.4% in the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock worth $57,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Stock Performance

Enovix stock opened at $8.60 on Wednesday. The stock has a fifty day moving average price of $7.50 and a two-hundred day moving average price of $8.87. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.68 and a quick ratio of 4.49. Enovix has a 52-week low of $5.27 and a 52-week high of $18.68. The firm has a market capitalization of $1.65 billion, a P/E ratio of -6.67 and a beta of 2.00.

About Enovix

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.