Enovix Co. (NASDAQ:ENVX – Get Rating) Director Thurman J. Rodgers purchased 65,134 shares of the business’s stock in a transaction dated Friday, March 10th. The shares were purchased at an average price of $9.56 per share, with a total value of $622,681.04. Following the acquisition, the director now directly owns 465,134 shares in the company, valued at $4,446,681.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Enovix Price Performance
Shares of ENVX traded up $0.04 during midday trading on Friday, reaching $9.56. The stock had a trading volume of 5,501,302 shares, compared to its average volume of 4,746,088. Enovix Co. has a 1-year low of $6.50 and a 1-year high of $26.30. The company’s fifty day simple moving average is $8.70 and its two-hundred day simple moving average is $13.56. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -8.39 and a beta of 0.99.
Institutional Investors Weigh In On Enovix
A number of hedge funds and other institutional investors have recently modified their holdings of ENVX. JPMorgan Chase & Co. raised its stake in Enovix by 5.2% during the 1st quarter. JPMorgan Chase & Co. now owns 106,242 shares of the company’s stock worth $1,516,000 after acquiring an additional 5,258 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Enovix by 61.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,800 shares of the company’s stock worth $340,000 after acquiring an additional 9,100 shares in the last quarter. HighTower Advisors LLC raised its stake in Enovix by 18.8% during the 1st quarter. HighTower Advisors LLC now owns 33,723 shares of the company’s stock worth $483,000 after acquiring an additional 5,335 shares in the last quarter. Citigroup Inc. raised its stake in Enovix by 129.2% during the 1st quarter. Citigroup Inc. now owns 20,144 shares of the company’s stock worth $287,000 after acquiring an additional 11,355 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Enovix by 1.2% during the 1st quarter. BlackRock Inc. now owns 1,498,054 shares of the company’s stock worth $21,376,000 after acquiring an additional 18,009 shares in the last quarter. 55.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Craig Hallum lowered their price objective on shares of Enovix from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, February 23rd. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and set a $18.00 price objective on shares of Enovix in a research report on Thursday, February 23rd. B. Riley lowered their price objective on shares of Enovix from $19.00 to $18.00 in a research report on Wednesday, January 4th. JPMorgan Chase & Co. lowered their price objective on shares of Enovix from $28.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, January 26th. Finally, Piper Sandler raised their price target on shares of Enovix from $22.50 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $27.92.
About Enovix
Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.
