Ajay Marathe Sells 120,000 Shares of Enovix (NASDAQ:ENVX) Stock

Enovix Corporation (NASDAQ:ENVX) COO Ajay Marathe sold 120,000 shares of Enovix stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $12.01, for a total value of $1,441,200.00. Following the transaction, the chief operating officer directly owned 1,027,259 shares in the company, valued at approximately $12,337,380.59. The trade was a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Enovix Trading Up 8.7%

Enovix stock opened at $12.96 on Tuesday. Enovix Corporation has a 12-month low of $5.27 and a 12-month high of $16.49. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -15.43 and a beta of 2.07. The firm has a 50 day moving average of $10.38 and a 200 day moving average of $9.37. The company has a current ratio of 4.37, a quick ratio of 4.11 and a debt-to-equity ratio of 0.82.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The business had revenue of $7.50 million for the quarter, compared to the consensus estimate of $5.48 million. Enovix had a negative net margin of 481.35% and a negative return on equity of 73.88%. The company’s revenue for the quarter was up 98.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180–0.140 EPS. As a group, research analysts predict that Enovix Corporation will post -1.01 earnings per share for the current year.

Enovix declared that its Board of Directors has authorized a stock repurchase program on Wednesday, July 2nd that permits the company to repurchase $60.00 million in shares. This repurchase authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Enovix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENVX. Wealth Enhancement Advisory Services LLC increased its stake in Enovix by 6.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company’s stock worth $233,000 after acquiring an additional 1,336 shares during the last quarter. California State Teachers Retirement System increased its position in Enovix by 2.8% in the fourth quarter. California State Teachers Retirement System now owns 141,206 shares of the company’s stock worth $1,535,000 after purchasing an additional 3,870 shares during the last quarter. GAMMA Investing LLC raised its stake in Enovix by 1,811.2% during the first quarter. GAMMA Investing LLC now owns 15,634 shares of the company’s stock valued at $115,000 after purchasing an additional 14,816 shares in the last quarter. Parallel Advisors LLC raised its stake in Enovix by 103.8% during the first quarter. Parallel Advisors LLC now owns 7,557 shares of the company’s stock valued at $55,000 after purchasing an additional 3,849 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Enovix by 7.1% during the first quarter. Rhumbline Advisers now owns 234,685 shares of the company’s stock valued at $1,723,000 after purchasing an additional 15,615 shares during the last quarter. 50.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ENVX has been the subject of a number of analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $12.00 price target (up previously from $9.00) on shares of Enovix in a research note on Thursday, July 24th. Cowen reiterated a “hold” rating on shares of Enovix in a research report on Tuesday, July 8th. TD Cowen raised Enovix to a “hold” rating and boosted their price target for the stock from $7.00 to $15.00 in a report on Monday, July 7th. Benchmark upped their price target on Enovix from $15.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Canaccord Genuity Group lifted their price objective on shares of Enovix from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.00.

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.