Northland Securities Reaffirms Their Buy Rating on Enovix (ENVX)

Northland Securities analyst Gus Richard maintained a Buy rating on Enovix on February 26 and set a price target of $16.00. The company’s shares closed yesterday at $5.95.

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Richard covers the Technology sector, focusing on stocks such as Synaptics, Enphase Energy, and Arteris. According to TipRanks, Richard has an average return of 21.7% and a 58.18% success rate on recommended stocks.

In addition to Northland Securities, Enovix also received a Buy from Oppenheimer’s Colin Rusch in a report issued on February 26. However, today, TipRanks – OpenAI reiterated a Hold rating on Enovix (NASDAQ: ENVX).

Based on Enovix’s latest earnings release for the quarter ending December 28, the company reported a quarterly revenue of $11.27 million and a GAAP net loss of $34.99 million. In comparison, last year the company earned a revenue of $9.72 million and had a GAAP net loss of $37.47 million

Based on the recent corporate insider activity of 175 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ENVX in relation to earlier this year. Last month, Kristina Truong, the CAO of ENVX sold 2,296.00 shares for a total of $16,783.76.