Enovix (NASDAQ:ENVX) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Enovix (NASDAQ:ENVX) in a research note released on Thursday,Benzinga reports. Cantor Fitzgerald currently has a $30.00 target price on the stock.

A number of other equities analysts have also commented on the stock. Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Enovix in a research report on Wednesday, October 30th. Janney Montgomery Scott downgraded Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Enovix Trading Up 2.5 %

Shares of Enovix stock opened at $11.47 on Thursday. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average is $11.11 and its two-hundred day moving average is $10.30. Enovix has a 52 week low of $5.70 and a 52 week high of $18.68.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The firm had revenue of $9.72 million for the quarter, compared to analysts’ expectations of $8.77 million. Sell-side analysts predict that Enovix will post -1.01 earnings per share for the current fiscal year.

Insider Transactions at Enovix

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of Enovix

A number of institutional investors have recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in Enovix by 23.6% in the third quarter. Private Advisor Group LLC now owns 99,900 shares of the company’s stock valued at $933,000 after acquiring an additional 19,056 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in Enovix by 47.3% in the third quarter. Legacy Capital Group California Inc. now owns 28,022 shares of the company’s stock valued at $262,000 after buying an additional 8,998 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Enovix by 34.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,077 shares of the company’s stock worth $188,000 after acquiring an additional 5,162 shares in the last quarter. Voisard Asset Management Group Inc. grew its stake in shares of Enovix by 40.0% during the third quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock worth $65,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC increased its holdings in shares of Enovix by 1.9% during the third quarter. Gladstone Institutional Advisory LLC now owns 189,115 shares of the company’s stock valued at $1,766,000 after acquiring an additional 3,525 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors.

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.