Royce & Associates LP Acquires Shares of 119,037 Enovix Corporation $ENVX

Royce & Associates LP purchased a new stake in Enovix Corporation (NASDAQ:ENVX) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 119,037 shares of the company’s stock, valued at approximately $1,187,000.

Other large investors also recently bought and sold shares of the company. Caitlin John LLC purchased a new position in Enovix in the 3rd quarter valued at $27,000. Stone House Investment Management LLC grew its holdings in shares of Enovix by 56.4% during the third 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. Wilmington Savings Fund Society FSB acquired a new stake in shares of Enovix in the third quarter valued at about $80,000. Independent Advisor Alliance acquired a new stake in shares of Enovix in the third quarter valued at about $110,000. Finally, Secure Asset Management LLC purchased a new position in shares of Enovix in the third quarter worth about $112,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. B. Riley Financial decreased their target price on shares of Enovix from $17.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Craig Hallum dropped their price target on Enovix from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Canaccord Genuity Group cut their price target on Enovix from $21.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Northland Securities set a $16.00 price objective on Enovix in a research note on Monday, November 17th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Enovix has an average rating of “Moderate Buy” and an average target price of $14.95.

Enovix Stock Performance

Shares of ENVX opened at $4.85 on Friday. The stock has a 50-day simple moving average of $6.80 and a 200-day simple moving average of $8.71. The company has a debt-to-equity ratio of 1.90, a quick ratio of 8.13 and a current ratio of 8.34. The stock has a market capitalization of $1.05 billion, a PE ratio of -6.30 and a beta of 2.15. Enovix Corporation has a 1 year low of $4.84 and a 1 year high of $16.49.

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.