Oppenheimer & Co. Inc. Grows Position in Enovix Corporation $ENVX

Oppenheimer & Co. Inc. grew its position in Enovix Corporation (NASDAQ:ENVX) by 34.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 397,512 shares of the company’s stock after acquiring an additional 101,733 shares during the quarter. Oppenheimer & Co. Inc. owned 0.20% of Enovix worth $3,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in Enovix during the second quarter valued at approximately $3,612,000. Perennial Investment Advisors LLC increased its position in shares of Enovix by 50.2% during the 2nd quarter. Perennial Investment Advisors LLC now owns 366,100 shares of the company’s stock valued at $3,785,000 after purchasing an additional 122,278 shares during the last quarter. XTX Topco Ltd purchased a new stake in Enovix during the 2nd quarter valued at $1,107,000. Baird Financial Group Inc. lifted its position in Enovix by 24.0% in the second quarter. Baird Financial Group Inc. now owns 721,930 shares of the company’s stock worth $7,465,000 after buying an additional 139,617 shares during the last quarter. Finally, Electron Capital Partners LLC lifted its position in Enovix by 5.3% in the second quarter. Electron Capital Partners LLC now owns 7,066,293 shares of the company’s stock worth $73,065,000 after buying an additional 353,530 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENVX has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enovix in a research report on Monday, December 29th. Canaccord Genuity Group cut their price target on shares of Enovix from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Cantor Fitzgerald reduced their price objective on shares of Enovix from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Northland Securities set a $16.00 price objective on shares of Enovix in a research note on Monday, November 17th. Finally, JPMorgan Chase & Co. cut their target price on Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.50.

Enovix Trading Down 2.4%

Shares of ENVX opened at $6.13 on Thursday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -7.57 and a beta of 2.13. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.72 and a quick ratio of 9.47. Enovix Corporation has a 1-year low of $5.27 and a 1-year high of $16.49. The company has a 50-day moving average of $7.70 and a 200 day moving average of $9.39.

Enovix Company 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.