Perennial Investment Advisors LLC Invests $2.81 Million in Enovix Corporation $ENVX

Perennial Investment Advisors LLC acquired a new stake in Enovix Corporation (NASDAQ:ENVX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 462,133 shares of the company’s stock, valued at approximately $2,805,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Private Advisor Group LLC increased its holdings in Enovix by 2.7% during the 3rd quarter. Private Advisor Group LLC now owns 46,519 shares of the company’s stock worth $464,000 after purchasing an additional 1,242 shares during the period. Parallel Advisors LLC boosted its stake in shares of Enovix by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock valued at $39,000 after buying an additional 1,342 shares during the period. Equitable Holdings Inc. boosted its stake in shares of Enovix by 10.9% in the 3rd quarter. Equitable Holdings Inc. now owns 13,700 shares of the company’s stock valued at $137,000 after buying an additional 1,342 shares during the period. NewEdge Advisors LLC grew its position in shares of Enovix by 4.7% during the first quarter. NewEdge Advisors LLC now owns 41,460 shares of the company’s stock worth $215,000 after buying an additional 1,853 shares in the last quarter. Finally, Mariner LLC grew its position in shares of Enovix by 3.4% during the third quarter. Mariner LLC now owns 58,343 shares of the company’s stock worth $582,000 after buying an additional 1,921 shares in the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Stock Performance

Shares of ENVX opened at $3.40 on Thursday. The stock has a 50 day moving average price of $4.79 and a 200 day moving average price of $5.67. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $746.13 million, a price-to-earnings ratio of -4.20 and a beta of 2.32. Enovix Corporation has a 52-week low of $3.06 and a 52-week high of $14.21.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. The company had revenue of $9.02 million for the quarter, compared to analysts’ expectations of $8.43 million. During the same quarter last year, the company earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Research analysts predict that Enovix Corporation will post -0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. Wall Street Zen cut shares of Enovix from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. TD Cowen dropped their price objective on shares of Enovix from $7.00 to $5.50 and set a “hold” rating on the stock in a research report on Friday, July 24th. Bank of America restated a “neutral” rating and issued a $5.00 price objective on shares of Enovix in a report on Monday, August 17th. Finally, Benchmark decreased their price objective on shares of Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Enovix currently has an average rating of “Moderate Buy” and a consensus target price of $11.77.

Enovix Company Profile

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.