Reynders McVeigh Capital Management LLC Sells 179,658 Shares of Enovix Corporation $ENVX

Reynders McVeigh Capital Management LLC cut its holdings in shares of Enovix Corporation (NASDAQ:ENVX) by 69.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,882 shares of the company’s stock after selling 179,658 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Enovix were worth $473,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new stake in Enovix during the 2nd quarter valued at $61,000. Engineers Gate Manager LP increased its holdings in shares of Enovix by 132.4% in the second quarter. Engineers Gate Manager LP now owns 51,281 shares of the company’s stock valued at $311,000 after purchasing an additional 29,214 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Enovix by 99.5% in the second quarter. HB Wealth Management LLC now owns 30,664 shares of the company’s stock valued at $186,000 after purchasing an additional 15,294 shares during the last quarter. AXQ Capital LP raised its position in shares of Enovix by 249.5% in the second quarter. AXQ Capital LP now owns 118,115 shares of the company’s stock valued at $717,000 after purchasing an additional 84,322 shares during the period. Finally, Headlands Technologies LLC raised its position in shares of Enovix by 231.6% in the second quarter. Headlands Technologies LLC now owns 301,781 shares of the company’s stock valued at $1,832,000 after purchasing an additional 210,782 shares during the period. Institutional investors own 50.92% of the company’s stock.

Enovix Stock Performance

Shares of Enovix stock traded down $0.04 during trading on Tuesday, reaching $2.98. The company’s stock had a trading volume of 7,513,721 shares, compared to its average volume of 6,654,660. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. The business’s 50-day moving average price is $4.05 and its 200-day moving average price is $5.42. Enovix Corporation has a 52 week low of $2.89 and a 52 week high of $14.21. The firm has a market cap of $653.96 million, a PE ratio of -3.68 and a beta of 2.31.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $9.02 million for the quarter, compared to analyst estimates of $8.43 million. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. Enovix’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Equities analysts forecast that Enovix Corporation will post -0.8 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on ENVX. TD Cowen reduced their target price on shares of Enovix from $7.00 to $5.50 and set a “hold” rating for the company in a report on Friday, July 24th. Loop Capital upgraded shares of Enovix to a “strong-buy” rating in a research report on Monday, August 17th. William Blair downgraded shares of Enovix from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. Finally, Craig Hallum set a $7.00 target price on Enovix in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Enovix presently has a consensus rating of “Moderate Buy” and an average price target of $11.77.

About Enovix

Enovix Corporation (NASDAQ: ENVX) is a battery technology company developing lithium-ion batteries with silicon-anode materials and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while maintaining safety and durability for applications that require compact, high-performance energy storage.

The company’s battery platform incorporates a silicon anode, a stainless-steel constraint system and its BrakeFlow technology, which is designed to help prevent thermal runaway from spreading within a battery pack.