Granahan Investment Management LLC Has $14.36 Million Stake in Enovix Corporation $ENVX

Granahan Investment Management LLC grew its holdings in Enovix Corporation (NASDAQ:ENVX) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,964,565 shares of the company’s stock after buying an additional 214,916 shares during the period. Granahan Investment Management LLC owned 0.91% of Enovix worth $14,361,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ENVX. Vanguard Group Inc. lifted its position in shares of Enovix by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company’s stock valued at $129,831,000 after buying an additional 1,747,145 shares during the last quarter. Millennium Management LLC lifted its position in shares of Enovix by 1,038.9% in the third quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock valued at $14,724,000 after buying an additional 1,347,200 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Enovix by 9,197.1% in the third quarter. Two Sigma Investments LP now owns 1,200,997 shares of the company’s stock valued at $11,974,000 after buying an additional 1,188,079 shares during the last quarter. Barclays PLC lifted its position in shares of Enovix by 263.1% in the fourth quarter. Barclays PLC now owns 1,551,941 shares of the company’s stock valued at $11,345,000 after buying an additional 1,124,480 shares during the last quarter. Finally, Electron Capital Partners LLC lifted its position in shares of Enovix by 13.8% in the third quarter. Electron Capital Partners LLC now owns 8,038,396 shares of the company’s stock valued at $80,143,000 after buying an additional 972,103 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ENVX shares. Canaccord Genuity Group cut their price objective on Enovix from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. JPMorgan Chase & Co. cut Enovix from a “neutral” rating to an “underweight” rating in a research report on Wednesday, May 6th. Oppenheimer cut their price objective on Enovix from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. TD Cowen reissued a “buy” rating on shares of Enovix in a report on Thursday, May 14th. Finally, Bank of America began coverage on Enovix in a report on Thursday, March 12th. They set a “neutral” rating and a $6.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.64.

Enovix Stock Performance

NASDAQ:ENVX opened at $6.63 on Wednesday. The stock has a market cap of $1.45 billion, a P/E ratio of -7.99 and a beta of 2.27. The stock has a 50 day simple moving average of $6.74 and a 200 day simple moving average of $6.74. 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 1-year low of $4.61 and a 1-year high of $16.49.

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

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.