Enovix Corporation $ENVX Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL cut its stake in Enovix Corporation (NASDAQ:ENVX) by 42.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,952 shares of the company’s stock after selling 254,192 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Enovix were worth $3,419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ENVX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Enovix by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock worth $722,000 after buying an additional 4,780 shares during the period. NewEdge Advisors LLC grew its stake in shares of Enovix by 10.4% in the first quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock valued at $193,000 after buying an additional 2,481 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Enovix by 65.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock valued at $8,351,000 after buying an additional 449,934 shares during the period. Caxton Associates LLP acquired a new position in Enovix during the 1st quarter worth approximately $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Enovix by 18.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock worth $2,628,000 after acquiring an additional 55,676 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Trading Down 5.0%

NASDAQ ENVX opened at $5.12 on Friday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.65 and a beta of 2.15. The company has a debt-to-equity ratio of 1.90, a current ratio of 8.34 and a quick ratio of 8.13. Enovix Corporation has a 12 month low of $4.61 and a 12 month high of $16.49. The company’s fifty day moving average price is $5.99 and its two-hundred day moving average price is $8.24.

Wall Street Analyst Weigh In

ENVX has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enovix in a research report on Monday, December 29th. TD Cowen decreased their target price on shares of Enovix from $15.00 to $7.50 and set a “hold” rating for the company in a research note on Thursday, February 26th. Craig Hallum lowered their price target on shares of Enovix from $16.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wells Fargo & Company set a $6.00 price target on shares of Enovix in a research note on Thursday, March 12th. Finally, B. Riley Financial cut their price objective on shares of Enovix from $17.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.46.

About Enovix

Enovix Corporation (NASDAQ: ENVX) develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.

Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.