5 Most Volatile Stocks to Buy Now

2. Enovix Corporation (NASDAQ:ENVX)

Number of Hedge Fund Holders: 30   

52-Week Price Range ($): 7.26 – 39.48

Enovix Corporation (NASDAQ:ENVX) designs, develops and manufactures lithium-ion batteries. It is one of the most volatile stocks to invest in. On November 1, Enovix Corporation disclosed that it has signed a non-binding memorandum of understanding with one of the world’s largest consumer electronic firms. This deal enables the evaluation and prototyping of Enovix batteries for electronics.

On November 2, Cowen analyst Gabe Daoud maintained an Outperform rating on Enovix Corporation (NASDAQ:ENVX) stock and lowered the price target to $25 from $36, noting that a negative knee-jerk reaction is expected as the decision to place more effort on Gen2 improvements v Gen1 will lead to slower-than-expected growth. 

At the end of the third quarter of 2022, 30 hedge funds in the database of Insider Monkey held stakes worth $486 million in Enovix Corporation (NASDAQ:ENVX), compared to 23 in the preceding quarter worth $273 million.