Enovix (NASDAQ:ENVX) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Enovix (NASDAQ:ENVX) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $30.00 price target on the stock.

Several other equities analysts also recently weighed in on ENVX. JPMorgan Chase & Co. reduced their target price on Enovix from $18.00 to $12.00 and set an overweight rating on the stock in a research report on Friday, April 26th. William Blair reaffirmed an outperform rating on shares of Enovix in a research note on Thursday, May 2nd. Canaccord Genuity Group lifted their price objective on Enovix from $17.00 to $20.00 and gave the company a buy rating in a research note on Thursday. Benchmark began coverage on Enovix in a research note on Monday, July 22nd. They issued a buy rating and a $25.00 price objective on the stock. Finally, B. Riley raised Enovix to a strong-buy rating in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Enovix currently has a consensus rating of Buy and an average target price of $19.50.

Enovix Price Performance

Shares of ENVX traded down $0.58 during trading hours on Thursday, reaching $11.39. 6,995,814 shares of the company traded hands, compared to its average volume of 5,465,231. The company has a quick ratio of 4.77, a current ratio of 4.89 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $1.94 billion, a PE ratio of -8.14 and a beta of 2.04. Enovix has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The stock has a fifty day simple moving average of $13.90 and a 200 day simple moving average of $10.66.

Insiders Place Their Bets

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

Institutional Trading of Enovix

Several institutional investors have recently modified their holdings of ENVX. Blue Trust Inc. raised its position in shares of Enovix by 102.1% during the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock worth $29,000 after purchasing an additional 957 shares during the period. GAMMA Investing LLC raised its position in shares of Enovix by 11,176.2% during the second quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock worth $37,000 after purchasing an additional 2,347 shares during the period. Able Wealth Management LLC bought a new stake in shares of Enovix during the 4th quarter worth about $34,000. Quest Partners LLC bought a new stake in shares of Enovix during the 4th quarter worth about $49,000. Finally, Voisard Asset Management Group Inc. bought a new stake in shares of Enovix during the 4th quarter worth about $50,000. 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.