Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Enovix Corporation $ENVX

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Enovix Corporation (NASDAQ:ENVX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,431,475 shares of the company’s stock, valued at approximately $8,689,000.

Several other large investors also recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in shares of Enovix by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock worth $39,000 after buying an additional 1,342 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Enovix during the 4th quarter valued at about $30,000. CWM LLC increased its holdings in Enovix by 95.4% during the 4th quarter. CWM LLC now owns 6,081 shares of the company’s stock valued at $44,000 after acquiring an additional 2,969 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Enovix during the third quarter worth about $80,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Enovix during the third quarter worth about $100,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Trading Up 0.6%

Shares of Enovix stock opened at $3.40 on Thursday. Enovix Corporation has a fifty-two week low of $3.06 and a fifty-two week high of $14.21. The business’s fifty day moving average is $4.79 and its two-hundred day moving average is $5.67. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. The firm has a market cap of $746.13 million, a PE ratio of -4.20 and a beta of 2.32.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $9.02 million during the quarter, compared to the consensus estimate of $8.43 million. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%.The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Analysts anticipate that Enovix Corporation will post -0.8 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a research report on Wednesday, July 8th. William Blair downgraded Enovix from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Wall Street Zen cut Enovix from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Oppenheimer reduced their price objective on Enovix from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Finally, Canaccord Genuity Group decreased their price objective on Enovix from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.77.

Enovix Company 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.