Blair William & Co. IL Sells 11,140 Shares of Enovix Co. (NASDAQ:ENVX)

Blair William & Co. IL cut its holdings in shares of Enovix Co. (NASDAQ:ENVX) by 33.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,318 shares of the company’s stock after selling 11,140 shares during the period. Blair William & Co. IL’s holdings in Enovix were worth $345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Enovix by 102.1% during the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after purchasing an additional 957 shares in the last quarter. GAMMA Investing LLC boosted its stake in Enovix by 11,176.2% in the second quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock valued at $37,000 after acquiring an additional 2,347 shares in the last quarter. Able Wealth Management LLC acquired a new stake in Enovix in the fourth quarter valued at approximately $34,000. Quest Partners LLC acquired a new stake in Enovix in the fourth quarter valued at approximately $49,000. Finally, Voisard Asset Management Group Inc. acquired a new stake in Enovix in the fourth quarter valued at approximately $50,000. 50.92% of the stock is currently owned by institutional investors.

Enovix Trading Up 2.9 %

Shares of Enovix stock opened at $9.33 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.98 and a quick ratio of 3.84. The firm has a fifty day moving average price of $10.65 and a 200 day moving average price of $10.50. Enovix Co. has a 1 year low of $5.70 and a 1 year high of $18.68. The stock has a market cap of $1.59 billion, a PE ratio of -6.96 and a beta of 1.99.

Enovix (NASDAQ:ENVX) last issued its earnings results on Wednesday, July 31st. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. Enovix had a negative net margin of 1,434.34% and a negative return on equity of 91.21%. The firm had revenue of $3.77 million during the quarter, compared to analysts’ expectations of $3.85 million. Equities research analysts predict that Enovix Co. will post -1.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Benchmark assumed coverage on shares of Enovix in a research note on Monday, July 22nd. They issued a “buy” rating and a $25.00 target price for the company. Craig Hallum raised their target price on shares of Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, August 1st. TD Cowen lifted their price objective on shares of Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, B. Riley upgraded shares of Enovix to a “strong-buy” rating in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enovix presently has an average rating of “Buy” and a consensus target price of $21.33.

About Enovix

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.