Enovix Co. (NASDAQ:ENVX) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its position in Enovix Co. (NASDAQ:ENVX) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,744 shares of the company’s stock after buying an additional 11,894 shares during the quarter. Oppenheimer & Co. Inc. owned 0.11% of Enovix worth $2,763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENVX. Headlands Technologies LLC purchased a new stake in shares of Enovix during the second quarter worth about $97,000. Chesapeake Capital Corp IL acquired a new stake in Enovix during the 2nd quarter valued at approximately $163,000. Caprock Group LLC increased its holdings in Enovix by 21.3% during the 2nd quarter. Caprock Group LLC now owns 26,148 shares of the company’s stock worth $404,000 after purchasing an additional 4,592 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Enovix by 3.8% in the 2nd quarter. Private Advisor Group LLC now owns 80,844 shares of the company’s stock valued at $1,250,000 after purchasing an additional 2,965 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Enovix by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 40,097 shares of the company’s stock valued at $620,000 after buying an additional 905 shares during the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Enovix Stock Up 3.9 %

Shares of Enovix stock opened at $9.70 on Monday. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -7.24 and a beta of 1.99. The company has a current ratio of 3.98, a quick ratio of 3.84 and a debt-to-equity ratio of 0.97. The business’s 50 day simple moving average is $12.19 and its 200-day simple moving average is $10.55.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, July 31st. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The company had revenue of $3.77 million for the quarter, compared to analysts’ expectations of $3.85 million. Enovix had a negative return on equity of 91.21% and a negative net margin of 1,434.34%. Equities research analysts forecast that Enovix Co. will post -1.21 earnings per share for the current year.

Insider Buying and Selling at Enovix

In other Enovix news, Director Gregory Reichow sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total value of $91,050.00. Following the sale, the director now owns 8,129 shares in the company, valued at $98,686.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ENVX shares. Oppenheimer restated an “outperform” rating and issued a $36.00 price target on shares of Enovix in a research note on Monday, August 26th. B. Riley upgraded shares of Enovix to a “strong-buy” rating in a research note on Tuesday, June 25th. Canaccord Genuity Group lifted their price target on Enovix from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. TD Cowen upped their price objective on Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $19.00 target price (down previously from $23.00) on shares of Enovix in a research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $21.33.

Enovix Company Profile

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.