Merrion Investment Management Co LLC Boosts Stake in Enovix Corporation (NASDAQ:ENVX)

Merrion Investment Management Co LLC increased its stake in Enovix Corporation (NASDAQ:ENVX) by 15.9% during the first quarter, Holdings Channel.com reports. The firm owned 37,930 shares of the company’s stock after purchasing an additional 5,200 shares during the quarter. Merrion Investment Management Co LLC’s holdings in Enovix were worth $278,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Coppell Advisory Solutions LLC purchased a new stake in Enovix in the fourth quarter worth about $27,000. Sava Infond d.o.o. bought a new position in shares of Enovix during the 4th quarter valued at approximately $43,000. Hollencrest Capital Management increased its holdings in Enovix by 61.4% in the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock worth $57,000 after acquiring an additional 2,000 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Enovix during the 4th quarter worth approximately $65,000. Finally, Parallel Advisors LLC raised its stake in Enovix by 103.8% during the 1st quarter. Parallel Advisors LLC now owns 7,557 shares of the company’s stock worth $55,000 after acquiring an additional 3,849 shares during the period. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Stock Up 0.7%

Shares of ENVX stock opened at $8.50 on Thursday. The company’s fifty day simple moving average is $7.31 and its two-hundred day simple moving average is $8.91. Enovix Corporation has a 52 week low of $5.27 and a 52 week high of $18.68. The stock has a market cap of $1.63 billion, a P/E ratio of -6.59 and a beta of 2.00. The company has a quick ratio of 4.49, a current ratio of 4.68 and a debt-to-equity ratio of 0.71.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ENVX shares. TD Securities dropped their price target on shares of Enovix from $10.00 to $7.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Craig Hallum lowered their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Benchmark cut their price target on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on Enovix from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Finally, B. Riley lowered their price objective on Enovix from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.27.

Enovix Profile

Enovix Corporation designs develops and manufactures silicon-anode lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.