Vanguard Group Inc. Buys 1,747,145 Shares of Enovix Corporation $ENVX

Vanguard Group Inc. lifted its position in Enovix Corporation (NASDAQ:ENVX) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,760,708 shares of the company’s stock after acquiring an additional 1,747,145 shares during the quarter. Vanguard Group Inc. owned approximately 8.23% of Enovix worth $129,831,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Caitlin John LLC bought a new stake in Enovix during the third quarter worth $27,000. Parallel Advisors LLC boosted its stake in Enovix by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock worth $39,000 after purchasing an additional 1,342 shares during the period. CWM LLC grew its position in shares of Enovix by 95.4% during the 4th quarter. CWM LLC now owns 6,081 shares of the company’s stock valued at $44,000 after purchasing an additional 2,969 shares in the last quarter. Bowman & Co S.C. bought a new position in Enovix in the 4th quarter worth about $73,000. Finally, Stone House Investment Management LLC grew its stake in Enovix by 56.4% in the 3rd quarter. Stone House Investment Management LLC now owns 7,922 shares of the company’s stock worth $79,000 after buying an additional 2,857 shares in the last quarter. 50.92% of the stock is owned by institutional investors.

Enovix Price Performance

Shares of NASDAQ ENVX opened at $7.18 on Tuesday. 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 1 year low of $4.61 and a 1 year high of $16.49. The company’s 50-day moving average is $5.71 and its 200 day moving average is $7.21. The stock has a market capitalization of $1.56 billion, a P/E ratio of -9.32 and a beta of 2.24.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ENVX. Wells Fargo & Company set a $6.00 price objective on Enovix in a report on Thursday, March 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a research report on Friday, April 10th. TD Cowen cut their price target on shares of Enovix from $15.00 to $7.50 and set a “hold” rating for the company in a research report on Thursday, February 26th. B. Riley Financial lowered their target price on Enovix from $17.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Bank of America initiated coverage on Enovix in a research note on Thursday, March 12th. They issued a “neutral” rating and a $6.00 price target on the stock. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.05.

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.