First Trust Advisors LP Sells 351,606 Shares of Enovix Corporation $ENVX

First Trust Advisors LP lowered its position in Enovix Corporation (NASDAQ:ENVX) by 42.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 476,903 shares of the company’s stock after selling 351,606 shares during the quarter. First Trust Advisors LP owned approximately 0.22% of Enovix worth $2,470,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in shares of Enovix by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock worth $39,000 after acquiring an additional 1,342 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Enovix during the 4th quarter worth about $30,000. CWM LLC lifted its holdings in shares of Enovix by 95.4% during the fourth quarter. CWM LLC now owns 6,081 shares of the company’s stock worth $44,000 after purchasing an additional 2,969 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Enovix in the 3rd quarter valued at $80,000. Finally, Bowman & Co S.C. acquired a new stake in Enovix during the 4th quarter worth about $73,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ENVX. JPMorgan Chase & Co. cut shares of Enovix from a “neutral” rating to an “underweight” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a research report on Wednesday, July 8th. Oppenheimer cut their price objective on shares of Enovix from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Wall Street Zen raised shares of Enovix from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Craig Hallum decreased their price target on Enovix from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Enovix Stock Up 10.3%

Enovix stock opened at $4.70 on Friday. The stock’s fifty day simple moving average is $5.69 and its 200-day simple moving average is $5.98. The company has a current ratio of 10.97, a quick ratio of 10.65 and a debt-to-equity ratio of 2.14. Enovix Corporation has a twelve month low of $3.67 and a twelve month high of $14.21. The firm has a market capitalization of $1.03 billion, a P/E ratio of -5.66 and a beta of 2.32.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. Enovix had a negative return on equity of 64.28% and a negative net margin of 499.64%.The business had revenue of $7.60 million during the quarter, compared to analysts’ expectations of $6.95 million. During the same quarter last year, the business posted ($0.15) EPS. The business’s quarterly revenue was up 49.1% compared to the same quarter last year. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. As a group, equities analysts expect that Enovix Corporation will post -0.79 earnings per share for the current fiscal year.

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.