Enovix (NASDAQ:ENVX) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Enovix (NASDAQ:ENVXGet Rating) in a research report report published on Friday, The Fly reports. The firm issued an overweight rating and a $20.00 price target on the stock.

A number of other research firms have also recently commented on ENVX. Cowen lowered their price target on shares of Enovix from $24.00 to $20.00 and set an outperform rating on the stock in a report on Friday, June 24th. Cowen lowered their price target on shares of Enovix from $24.00 to $20.00 and set an outperform rating on the stock in a report on Friday, June 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $28.00.

Enovix Stock Performance

ENVX stock opened at $14.41 on Friday. The company has a market capitalization of $2.26 billion, a P/E ratio of -13.72 and a beta of 2.73. Enovix has a 52-week low of $7.26 and a 52-week high of $39.48. The business has a 50-day simple moving average of $11.09 and a two-hundred day simple moving average of $12.34.

Enovix (NASDAQ:ENVXGet Rating) last announced its earnings results on Wednesday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). As a group, sell-side analysts forecast that Enovix will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at Enovix

In other Enovix news, CTO Ashok Lahiri sold 2,000 shares of Enovix stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $13.30, for a total transaction of $26,600.00. Following the completion of the sale, the chief technology officer now directly owns 1,407,993 shares in the company, valued at $18,726,306.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Thurman J. Rodgers purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were bought at an average cost of $9.00 per share, for a total transaction of $900,000.00. Following the completion of the transaction, the director now directly owns 400,000 shares of the company’s stock, valued at approximately $3,600,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Ashok Lahiri sold 2,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $13.30, for a total value of $26,600.00. Following the completion of the sale, the chief technology officer now directly owns 1,407,993 shares in the company, valued at $18,726,306.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,000 shares of company stock valued at $790,980.

Hedge Funds Weigh In On Enovix

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arizona State Retirement System grew its position in Enovix by 50.6% in the 1st quarter. Arizona State Retirement System now owns 17,668 shares of the company’s stock worth $252,000 after purchasing an additional 5,940 shares during the period. Virginia Retirement Systems ET AL purchased a new position in Enovix in the first quarter worth about $264,000. Cannon Global Investment Management LLC purchased a new stake in shares of Enovix during the 1st quarter valued at about $639,000. Essex Investment Management Co. LLC boosted its holdings in shares of Enovix by 68.8% in 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. Finally, Kestra Advisory Services LLC increased its holdings in Enovix by 31.3% during the first quarter. Kestra Advisory Services LLC now owns 12,600 shares of the company’s stock valued at $180,000 after buying an additional 3,000 shares during the last quarter. 56.82% of the stock is currently owned by institutional investors.

Enovix Company Profile

(Get Rating)

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.

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Analyst Recommendations for Enovix (NASDAQ:ENVX)

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