53,961 Shares in Enovix Co. (NASDAQ:ENVX) Bought by Scientech Research LLC

Scientech Research LLC bought a new position in shares of Enovix Co. (NASDAQ:ENVX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 53,961 shares of the company’s stock, valued at approximately $834,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ENVX. Blue Trust Inc. lifted its holdings in shares of Enovix by 102.1% during the 2nd quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after purchasing an additional 957 shares in the last quarter. GAMMA Investing LLC raised its holdings in Enovix by 11,176.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock worth $37,000 after buying an additional 2,347 shares during the period. Able Wealth Management LLC bought a new position in Enovix in the fourth quarter valued at approximately $34,000. Voisard Asset Management Group Inc. acquired a new position in shares of Enovix in the fourth quarter valued at approximately $50,000. Finally, Beacon Capital Management LLC increased its position in shares of Enovix by 71.9% during the first quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock worth $34,000 after acquiring an additional 1,798 shares in the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENVX has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price objective (down from $23.00) on shares of Enovix in a research report on Monday, August 5th. Canaccord Genuity Group boosted their price target on Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Benchmark assumed coverage on Enovix in a report on Monday, July 22nd. They set a “buy” rating and a $25.00 price objective for the company. B. Riley upgraded Enovix to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, Craig Hallum upped their price target on Enovix from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $21.33.

Enovix Stock Performance

Shares of NASDAQ ENVX opened at $9.55 on Friday. The stock has a market capitalization of $1.68 billion, a PE ratio of -7.12 and a beta of 1.99. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68. The stock has a 50 day moving average price of $10.53 and a 200 day moving average price of $10.52. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.84 and a current ratio of 3.98.

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

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.