Enovix (NASDAQ:ENVX – Get Rating) had its price objective cut by equities researchers at EF Hutton Acquisition Co. I from $23.00 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. EF Hutton Acquisition Co. I’s price target indicates a potential upside of 121.13% from the company’s current price.
Several other research analysts have also recently issued reports on ENVX. Canaccord Genuity Group started coverage on Enovix in a research note on Wednesday, January 11th. They issued a “buy” rating and a $20.00 price target for the company. Cowen decreased their price target on Enovix from $36.00 to $25.00 in a research note on Wednesday, November 2nd. Piper Sandler decreased their price target on Enovix from $26.50 to $22.50 and set an “overweight” rating for the company in a research note on Monday, January 23rd. JPMorgan Chase & Co. decreased their price target on Enovix from $28.00 to $16.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, B. Riley decreased their target price on Enovix from $19.00 to $18.00 in a research note on Wednesday, January 4th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $28.54.
Get Enovix alerts:Shares of NASDAQ ENVX opened at $8.14 on Friday. Enovix has a 1-year low of $6.50 and a 1-year high of $26.30. The business’s fifty day moving average price is $10.45 and its two-hundred day moving average price is $14.80. The firm has a market capitalization of $1.28 billion, a PE ratio of -5.54 and a beta of 1.45.
Enovix (Enovix ( NASDAQ:ENVX Get Rating ) last issued its earnings results on Tuesday, November 1st. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.01. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.55 million. Equities research analysts expect that Enovix will post -0.76 earnings per share for the current fiscal year.
In related news, CEO Harrold J. Rust sold 2,000 shares of the stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $18.77, for a total value of $37,540.00. Following the completion of the sale, the chief executive officer now directly owns 1,365,531 shares of the company’s stock, valued at approximately $25,631,016.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Gardner Cameron Dales sold 30,000 shares of the stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $18.55, for a total value of $556,500.00. Following the completion of the sale, the insider now directly owns 899,565 shares of the company’s stock, valued at approximately $16,686,930.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Harrold J. Rust sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $18.77, for a total value of $37,540.00. Following the sale, the chief executive officer now directly 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 ninety days, insiders sold 41,000 shares of company stock valued at $740,870. Corporate insiders own 20.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC purchased a new stake in shares of Enovix during the 2nd quarter worth about $130,000. ProShare Advisors LLC purchased a new stake in shares of Enovix during the 2nd quarter worth about $109,000. Virtu Financial LLC acquired a new position in shares of Enovix during the 2nd quarter valued at about $155,000. Arizona State Retirement System increased its holdings in shares of Enovix by 8.0% during the 2nd quarter. Arizona State Retirement System now owns 19,083 shares of the company’s stock valued at $170,000 after acquiring an additional 1,415 shares during the last quarter. Finally, Forefront Wealth Management Inc. acquired a new position in shares of Enovix during the 2nd quarter valued at about $226,000. 55.62% of the stock is owned by hedge funds and other institutional investors.
(Get Rating)
Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.
Receive News & Ratings for Enovix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enovix and related companies with MarketBeat.com's FREE daily email newsletter.
