Perennial Investment Advisors LLC Makes New $2.81 Million Investment in Enovix Corporation $ENVX

Perennial Investment Advisors LLC bought a new position in Enovix Corporation (NASDAQ:ENVX) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 462,133 shares of the company’s stock, valued at approximately $2,805,000. Perennial Investment Advisors LLC owned about 0.21% of Enovix as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Enovix by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock valued at $722,000 after purchasing an additional 4,780 shares during the period. NewEdge Advisors LLC grew its stake in shares of Enovix by 10.4% in the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock valued at $193,000 after buying an additional 2,481 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Enovix by 65.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock valued at $8,351,000 after buying an additional 449,934 shares during the period. Caxton Associates LLP acquired a new stake in shares of Enovix during the 1st quarter worth approximately $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Enovix by 18.4% during the 1st 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. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Stock Performance

Shares of ENVX stock opened at $3.40 on Thursday. The firm’s 50 day moving average price is $4.79 and its 200-day moving average price is $5.67. The company has a debt-to-equity ratio of 2.46, a quick ratio of 9.37 and a current ratio of 9.71. Enovix Corporation has a one year low of $3.06 and a one year high of $14.21. The firm has a market cap of $746.13 million, a P/E ratio of -4.20 and a beta of 2.32.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $9.02 million during the quarter, compared to the consensus estimate of $8.43 million. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) EPS. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. As a group, equities research analysts predict that Enovix Corporation will post -0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen decreased their price objective on Enovix from $7.00 to $5.50 and set a “hold” rating on the stock in a report on Friday, July 24th. William Blair downgraded Enovix from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Loop Capital raised Enovix to a “strong-buy” rating in a research note on Monday, August 17th. Canaccord Genuity Group lowered their price target on Enovix from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.77.

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.