Enovix (NASDAQ:ENVX) Price Target Raised to $14.00 at TD Cowen

Enovix (NASDAQ:ENVX) had its price objective upped by TD Cowen from $11.00 to $14.00 in a report released on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the stock.

ENVX has been the subject of several other research reports. Canaccord Genuity Group upped their price objective on Enovix from $17.00 to $20.00 and gave the company a buy rating in a research note on Thursday. B. Riley raised shares of Enovix to a strong-buy rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price objective on shares of Enovix from $18.00 to $12.00 and set an overweight rating on the stock in a research note on Friday, April 26th. Craig Hallum raised their target price on Enovix from $15.00 to $20.00 and gave the stock a buy rating in a research report on Thursday. Finally, William Blair reiterated an outperform rating on shares of Enovix in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $19.57.

Enovix Price Performance

Shares of ENVX traded up $0.26 during mid-day trading on Thursday, reaching $11.91. The company had a trading volume of 5,792,982 shares, compared to its average volume of 5,431,092. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -8.37 and a beta of 2.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.77 and a current ratio of 4.89. The company’s 50 day simple moving average is $13.88 and its 200 day simple moving average is $10.65. Enovix has a 1-year low of $5.70 and a 1-year high of $19.37.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.05). Enovix had a negative net margin of 1,434.34% and a negative return on equity of 84.28%. The firm had revenue of $5.27 million for the quarter, compared to analyst estimates of $4.16 million. Analysts expect that Enovix will post -1.14 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gregory Reichow sold 7,500 shares of Enovix stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total value of $91,050.00. Following the completion of the sale, the director now owns 8,129 shares in the company, valued at approximately $98,686.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Enovix

Several hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC raised its holdings in shares of Enovix by 1.9% in the 4th 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 last quarter. Blue Trust Inc. lifted its holdings in shares of Enovix by 102.1% in the second 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. Voisard Asset Management Group Inc. boosted its position in shares of Enovix by 25.0% during the second quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock valued at $77,000 after buying an additional 1,000 shares during the last quarter. Principal Financial Group Inc. raised its position in Enovix by 7.7% in the 2nd quarter. Principal Financial Group Inc. now owns 20,079 shares of the company’s stock valued at $310,000 after buying an additional 1,434 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC lifted its stake in Enovix by 9.7% during the 2nd quarter. Kohmann Bosshard Financial Services LLC now owns 17,000 shares of the company’s stock valued at $263,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

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.