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

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

Other research analysts also recently issued reports about the stock. Craig Hallum increased their price objective on shares of Enovix from $15.00 to $20.00 and gave the company a buy rating in a research note on Thursday. Canaccord Genuity Group increased their price objective on shares of Enovix from $17.00 to $20.00 and gave the company a buy rating in a research note on Thursday. B. Riley upgraded shares of Enovix to a strong-buy rating in a research report on Tuesday, June 25th. Benchmark began coverage on shares of Enovix in a research report on Monday, July 22nd. They issued a buy rating and a $25.00 price target on the stock. Finally, Cantor Fitzgerald restated an overweight rating and issued a $30.00 price target on shares of Enovix in a research report on Thursday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Enovix currently has a consensus rating of Buy and an average price target of $19.57.

Enovix Trading Up 2.7 %

NASDAQ ENVX opened at $11.97 on Thursday. Enovix has a 12 month low of $5.70 and a 12 month high of $19.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.89 and a quick ratio of 4.77. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -8.93 and a beta of 2.04. The company’s fifty day moving average price is $13.90 and its two-hundred day moving average price is $10.66.

Insider Activity at Enovix

In other Enovix news, Director Gregory Reichow sold 7,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $12.14, for a total transaction of $91,050.00. Following the transaction, the director now owns 8,129 shares of the company’s stock, valued at approximately $98,686.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 17.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enovix

Several large investors have recently bought and sold shares of the stock. Wealth Effects LLC increased its stake in Enovix by 55.6% during the 2nd quarter. Wealth Effects LLC now owns 229,001 shares of the company’s stock valued at $3,540,000 after buying an additional 81,801 shares during the period. Rhumbline Advisers grew its stake in shares of Enovix by 13.7% in the 2nd quarter. Rhumbline Advisers now owns 221,966 shares of the company’s stock worth $3,432,000 after purchasing an additional 26,724 shares during the last quarter. Natixis Advisors LLC acquired a new position in shares of Enovix in the 2nd quarter worth approximately $247,000. Cutter & CO Brokerage Inc. grew its stake in shares of Enovix by 6.5% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 44,268 shares of the company’s stock worth $684,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Enovix by 45.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 69,414 shares of the company’s stock worth $1,073,000 after purchasing an additional 21,620 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

About Enovix

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.