Fintel reports that on September 8, 2023, Cantor Fitzgerald reiterated coverage of Enovix (NASDAQ:ENVX) with a Overweight recommendation.
Analyst Price Forecast Suggests 123.13% Upside
As of August 31, 2023, the average one-year price target for Enovix is 32.73. The forecasts range from a low of 20.20 to a high of $105.00. The average price target represents an increase of 123.13% from its latest reported closing price of 14.67.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Enovix is 8MM, an increase of 609.19%. The projected annual non-GAAP EPS is -0.74.
What is the Fund Sentiment?
There are 398 funds or institutions reporting positions in Enovix. This is an increase of 24 owner(s) or 6.42% in the last quarter. Average portfolio weight of all funds dedicated to ENVX is 0.22%, a decrease of 46.88%. Total shares owned by institutions increased in the last three months by 2.65% to 83,386K shares. 
The put/call ratio of ENVX is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
Park West Asset Management holds 5,385K shares representing 3.36% ownership of the company. In it's prior filing, the firm reported owning 5,417K shares, representing a decrease of 0.60%. The firm increased its portfolio allocation in ENVX by 17.97% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,720K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 3,709K shares, representing an increase of 0.29%. The firm increased its portfolio allocation in ENVX by 11.96% over the last quarter.
IWM - iShares Russell 2000 ETF holds 3,123K shares representing 1.95% ownership of the company. In it's prior filing, the firm reported owning 2,348K shares, representing an increase of 24.82%. The firm increased its portfolio allocation in ENVX by 48.36% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,062K shares representing 1.91% ownership of the company. In it's prior filing, the firm reported owning 3,095K shares, representing a decrease of 1.07%. The firm increased its portfolio allocation in ENVX by 13.90% over the last quarter.
Goldman Sachs Group holds 3,025K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 212K shares, representing an increase of 93.00%. The firm increased its portfolio allocation in ENVX by 5,518.97% over the last quarter.
Enovix Background Information
(This description is provided by the company.)
Enovix is the leader in advanced silicon-anode lithium-ion battery development and production. The company's proprietary 3D cell architecture increases energy density and maintains high cycle life. Enovix is building an advanced silicon-anode lithium-ion battery production facility in the U.S. for volume production. The company's initial goal is to provide designers of category-leading mobile devices with a high-energy battery so they can create more innovative and effective portable products. Enovix is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable widespread utilization of renewable energy.
Additional reading:
- Form of Debt Securities Warrant Agreement and Warrant Certificate
- Form of Indenture
- Form of Common Stock Warrant Agreement and Warrant Certificate
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