Enovix Corporation $ENVX Shares Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC boosted its holdings in shares of Enovix Corporation (NASDAQ:ENVX) by 17.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,749,649 shares of the company’s stock after acquiring an additional 260,085 shares during the period. Granahan Investment Management LLC’s holdings in Enovix were worth $17,444,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ENVX. Caitlin John LLC purchased a new position in Enovix in the 3rd quarter worth approximately $27,000. Parallel Advisors LLC grew its position in shares of Enovix by 51.9% in the third quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock valued at $39,000 after purchasing an additional 1,342 shares in the last quarter. Stone House Investment Management LLC increased its holdings in shares of Enovix by 56.4% in the third quarter. Stone House Investment Management LLC now owns 7,922 shares of the company’s stock valued at $79,000 after purchasing an additional 2,857 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Enovix in the third quarter valued at approximately $80,000. Finally, Independent Advisor Alliance purchased a new position in Enovix during the third quarter worth approximately $110,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Up 0.4%

ENVX stock opened at $4.94 on Monday. Enovix Corporation has a one year low of $4.61 and a one year high of $16.49. The firm has a market cap of $1.07 billion, a PE ratio of -6.42 and a beta of 2.15. The firm’s 50 day moving average price is $6.54 and its 200-day moving average price is $8.50. The company has a debt-to-equity ratio of 1.90, a quick ratio of 8.13 and a current ratio of 8.34.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ENVX. Wells Fargo & Company set a $6.00 price objective on Enovix in a research note on Thursday. Canaccord Genuity Group cut their target price on Enovix from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Northland Securities set a $16.00 price target on Enovix in a report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovix in a research report on Monday, December 29th. Finally, B. Riley Financial dropped their price objective on shares of Enovix from $17.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Enovix currently has an average rating of “Hold” and an average price target of $13.46.

Enovix 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.