Enovix Co. (NASDAQ:ENVX – Get Rating) has been given an average rating of “Buy” by the twelve ratings firms that are presently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $28.54.
ENVX has been the subject of several recent analyst reports. B. Riley lowered their price target on Enovix from $19.00 to $18.00 in a report on Wednesday, January 4th. Cowen reduced their price objective on Enovix from $36.00 to $25.00 in a research note on Wednesday, November 2nd. Canaccord Genuity Group assumed coverage on Enovix in a research note on Wednesday, January 11th. They issued a “buy” rating and a $20.00 price objective on the stock. Janney Montgomery Scott assumed coverage on Enovix in a research note on Friday, November 4th. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Enovix from $28.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday.
Get Enovix alerts:Enovix stock opened at $8.14 on Friday. The stock has a market cap of $1.28 billion, a PE ratio of -5.54 and a beta of 1.45. The stock has a 50-day moving average price of $10.45 and a 200 day moving average price of $14.84. Enovix has a 52 week low of $6.50 and a 52 week high of $26.30.
Enovix (Enovix ( NASDAQ:ENVX Get Rating ) last posted its quarterly earnings data on Tuesday, November 1st. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.55 million. On average, equities analysts predict that Enovix will post -0.76 EPS for the current year.
In other news, CTO Ashok Lahiri sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $19.09, for a total transaction of $95,450.00. Following the completion of the transaction, the chief technology officer now directly owns 1,360,993 shares in the company, valued at approximately $25,981,356.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CTO Ashok Lahiri sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $19.09, for a total transaction of $95,450.00. Following the completion of the transaction, the chief technology officer now directly owns 1,360,993 shares in the company, valued at approximately $25,981,356.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Harrold J. Rust sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $18.77, for a total value of $37,540.00. Following the transaction, the chief executive officer now owns 1,365,531 shares of the company’s stock, valued at $25,631,016.87. The disclosure for this sale can be found here. In the last three months, insiders sold 41,000 shares of company stock worth $740,870. 20.60% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ENVX. JPMorgan Chase & Co. raised its position in shares of Enovix by 5.2% during the 1st quarter. JPMorgan Chase & Co. now owns 106,242 shares of the company’s stock valued at $1,516,000 after acquiring an additional 5,258 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Enovix by 61.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,800 shares of the company’s stock valued at $340,000 after acquiring an additional 9,100 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Enovix by 18.8% during the 1st quarter. HighTower Advisors LLC now owns 33,723 shares of the company’s stock valued at $483,000 after acquiring an additional 5,335 shares in the last quarter. Citigroup Inc. raised its position in shares of Enovix by 129.2% during the 1st quarter. Citigroup Inc. now owns 20,144 shares of the company’s stock valued at $287,000 after acquiring an additional 11,355 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Enovix by 1.2% during the 1st quarter. BlackRock Inc. now owns 1,498,054 shares of the company’s stock valued at $21,376,000 after acquiring an additional 18,009 shares in the last quarter. 55.62% of the stock is owned by institutional investors and hedge funds.
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Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.
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