Enovix Co. (NASDAQ:ENVX – Get Free Report)’s share price was up 7.8% during mid-day trading on Monday . The stock traded as high as $8.25 and last traded at $8.25. Approximately 2,834,306 shares changed hands during trading, a decline of 53% from the average daily volume of 6,027,624 shares. The stock had previously closed at $7.65.
Analyst Upgrades and Downgrades
ENVX has been the topic of a number of analyst reports. Craig Hallum lowered their target price on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Enovix currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.
View Our Latest Stock Report on Enovix
Enovix Stock Up 8.4 %
Enovix (NASDAQ:ENVX – Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The company had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Sell-side analysts forecast that Enovix Co. will post -1.01 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the transaction, the chief executive officer now directly owns 2,045,301 shares of the company’s stock, valued at $19,123,564.35. This represents a 12.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 15.70% of the stock is owned by company insiders.
Hedge Funds Weigh In On Enovix
Hedge funds have recently bought and sold shares of the company. Fluent Financial LLC acquired a new stake in shares of Enovix during the 4th quarter worth approximately $737,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Enovix during the fourth quarter valued at approximately $2,101,000. B. Riley Wealth Advisors Inc. raised its stake in shares of Enovix by 104.6% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 23,575 shares of the company’s stock worth $256,000 after buying an additional 12,050 shares in the last quarter. Integrated Advisors Network LLC bought a new position in shares of Enovix during the 4th quarter valued at about $148,000. Finally, PharVision Advisers LLC bought a new position in shares of Enovix in the fourth quarter valued at $149,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.
Enovix Company Profile
Enovix Corporation designs, develops, and manufactures 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.
See Also
- Five stocks we like better than Enovix
- Buy P&G Now, Before It Sets A New All-Time High
- Can TikTok Stock Picks Really Make You Rich?
- How to Start Investing in Real Estate
- The “Quality” Rotation: Back to Basics Investing
- How to Invest in the Best Canadian StocksĀ
- Occidental Petroleum: 4 Reasons to Love These Prices
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.