Enovix Co. (NASDAQ:ENVX) Holdings Raised by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its stake in shares of Enovix Co. (NASDAQ:ENVX) by 7.1% during the second quarter, Holdings Channel.com reports. The firm owned 178,744 shares of the company’s stock after acquiring an additional 11,894 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enovix were worth $2,763,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Enovix by 2.3% during the second quarter. Arizona State Retirement System now owns 40,097 shares of the company’s stock worth $620,000 after purchasing an additional 905 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Enovix by 1.9% during the fourth quarter. Corient Private Wealth LLC now owns 49,587 shares of the company’s stock worth $621,000 after acquiring an additional 910 shares during the period. Blue Trust Inc. raised its position in Enovix by 102.1% in the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock worth $29,000 after acquiring an additional 957 shares in the last quarter. Voisard Asset Management Group Inc. lifted its holdings in Enovix by 25.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock valued at $77,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Enovix by 7.7% during the 2nd quarter. Principal Financial Group Inc. now owns 20,079 shares of the company’s stock valued at $310,000 after purchasing an additional 1,434 shares in the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Enovix news, Director Gregory Reichow sold 7,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $12.14, for a total transaction of $91,050.00. Following the completion of the sale, the director now directly owns 8,129 shares in the company, valued at approximately $98,686.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.30% of the company’s stock.

Enovix Trading Up 3.9 %

Shares of NASDAQ ENVX opened at $9.70 on Monday. Enovix Co. has a one year low of $5.70 and a one year high of $18.68. The firm has a market capitalization of $1.71 billion, a PE ratio of -7.24 and a beta of 1.99. The company has a current ratio of 3.98, a quick ratio of 3.84 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average price of $12.19 and a two-hundred day moving average price of $10.55.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Enovix had a negative return on equity of 91.21% and a negative net margin of 1,434.34%. The firm had revenue of $3.77 million during the quarter, compared to analyst estimates of $3.85 million. As a group, analysts predict that Enovix Co. will post -1.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ENVX. TD Cowen increased their target price on shares of Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. B. Riley upgraded Enovix to a “strong-buy” rating in a research report on Tuesday, June 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a report on Thursday, August 1st. Benchmark started coverage on Enovix in a research report on Monday, July 22nd. They set a “buy” rating and a $25.00 target price on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $36.00 price target on shares of Enovix in a research report on Monday, August 26th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $21.33.

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.