Jupiter Asset Management Ltd. Purchases Shares of 247,274 Enovix Corporation $ENVX

Jupiter Asset Management Ltd. acquired a new position in Enovix Corporation (NASDAQ:ENVX) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 247,274 shares of the company’s stock, valued at approximately $2,465,000. Jupiter Asset Management Ltd. owned approximately 0.11% of Enovix as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Enovix by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock worth $722,000 after acquiring an additional 4,780 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Enovix by 10.4% in the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock worth $193,000 after purchasing an additional 2,481 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Enovix by 65.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock valued at $8,351,000 after purchasing an additional 449,934 shares during the last quarter. Caxton Associates LLP bought a new stake in Enovix during the first quarter worth approximately $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Enovix by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock worth $2,628,000 after buying an additional 55,676 shares during the last quarter. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Performance

Shares of ENVX stock opened at $5.95 on Friday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -7.35 and a beta of 2.13. Enovix Corporation has a 1-year low of $5.27 and a 1-year high of $16.49. The company has a current ratio of 9.72, a quick ratio of 9.47 and a debt-to-equity ratio of 1.74. The stock’s fifty day simple moving average is $7.28 and its 200-day simple moving average is $9.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Oppenheimer set a $24.00 price objective on Enovix in a research report on Thursday, November 6th. 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 report on Wednesday, November 12th. Northland Securities set a $16.00 price target on Enovix in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovix in a research note on Monday, December 29th. Finally, Canaccord Genuity Group reduced their price objective on shares of Enovix from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.50.

About Enovix

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.