Enovix (NASDAQ:ENVX) Sets New 12-Month Low at $10.78

Enovix Co. (NASDAQ:ENVXGet Rating)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $10.78 and last traded at $10.88, with a volume of 2911 shares changing hands. The stock had previously closed at $11.18.

A number of brokerages have recently commented on ENVX. Craig Hallum cut their price objective on Enovix from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, March 4th. Zacks Investment Research upgraded Enovix from a “sell” rating to a “hold” rating in a research report on Tuesday, January 11th. Cowen started coverage on shares of Enovix in a research note on Tuesday, January 4th. They set an “outperform” rating and a $32.00 target price on the stock. Finally, Piper Sandler cut their target price on shares of Enovix from $39.00 to $35.00 in a research note on Tuesday, January 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Enovix presently has a consensus rating of “Buy” and a consensus price target of $33.00.

The business’s 50 day simple moving average is $14.30.

Enovix (NASDAQ:ENVXGet Rating) last posted its quarterly earnings results on Thursday, March 3rd. The company reported ($0.60) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.44). As a group, sell-side analysts forecast that Enovix Co. will post -0.67 EPS for the current fiscal year.

In other Enovix news, CEO Harrold J. Rust bought 3,500 shares of the stock in a transaction on Tuesday, March 8th. The shares were purchased at an average cost of $14.50 per share, with a total value of $50,750.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Daniel Mccranie bought 20,000 shares of the stock in a transaction on Tuesday, March 8th. The shares were acquired at an average cost of $14.57 per share, for a total transaction of $291,400.00. The disclosure for this purchase can be found here.

A number of institutional investors have recently bought and sold shares of the business. Frontier Capital Management Co. LLC acquired a new position in Enovix during the first quarter worth $6,680,000. CAPROCK Group Inc. acquired a new position in Enovix during the first quarter worth $305,000. Essex Investment Management Co. LLC increased its position in Enovix by 68.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 163,944 shares of the company’s stock worth $4,472,000 after buying an additional 66,823 shares during the last quarter. Moody Lynn & Lieberson LLC acquired a new position in Enovix during the fourth quarter worth $770,000. Finally, Parallel Advisors LLC acquired a new position in Enovix during the third quarter worth $70,000. 56.18% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Company Profile (NASDAQ:ENVX)

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was incorporated in 2006 and is headquartered in Fremont, California.

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