Enovix Co. (NASDAQ:ENVX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Enovix Co. (NASDAQ:ENVXGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.30.

ENVX has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, February 20th. Craig Hallum lowered their target price on Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 20th.

Get Our Latest Research Report on ENVX

Insider Buying and Selling

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the sale, the chief executive officer now directly owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. This represents a 12.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.70% of the stock is owned by company insiders.

Institutional Trading of Enovix

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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 stake in shares of Enovix during the 4th quarter worth approximately $2,101,000. B. Riley Wealth Advisors Inc. raised its position in shares of Enovix by 104.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 23,575 shares of the company’s stock worth $256,000 after purchasing an additional 12,050 shares during the period. Integrated Advisors Network LLC acquired a new stake in shares of Enovix during the 4th quarter worth approximately $148,000. Finally, PharVision Advisers LLC acquired a new stake in shares of Enovix during the 4th quarter worth approximately $149,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Stock Up 6.1 %

Shares of NASDAQ ENVX opened at $7.65 on Monday. Enovix has a 12-month low of $5.70 and a 12-month high of $18.68. The company has a market cap of $1.46 billion, a P/E ratio of -5.28 and a beta of 1.93. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The stock has a fifty day moving average price of $10.61 and a 200 day moving average price of $10.09.

Enovix (NASDAQ:ENVXGet Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (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 firm had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Research analysts anticipate that Enovix will post -1.01 EPS for the current fiscal year.

About Enovix

(Get Free Report

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.

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Analyst Recommendations for Enovix (NASDAQ:ENVX)

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