EPIQ Capital Group LLC Decreases Stock Holdings in Enovix Co. (NASDAQ:ENVX)

EPIQ Capital Group LLC reduced its position in shares of Enovix Co. (NASDAQ:ENVX) by 26.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,170 shares of the company’s stock after selling 5,171 shares during the period. EPIQ Capital Group LLC’s holdings in Enovix were worth $219,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Enovix by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock valued at $104,881,000 after purchasing an additional 164,717 shares during the period. Electron Capital Partners LLC raised its stake in Enovix by 20.0% in the fourth quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company’s stock worth $40,556,000 after buying an additional 540,399 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Enovix by 2,228.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock worth $11,518,000 after buying an additional 1,376,253 shares in the last quarter. Masters Capital Management LLC lifted its holdings in Enovix by 3.8% in the first quarter. Masters Capital Management LLC now owns 1,350,000 shares of the company’s stock worth $10,814,000 after buying an additional 50,000 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Enovix by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,089,959 shares of the company’s stock valued at $13,646,000 after acquiring an additional 55,157 shares in the last quarter. 50.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ENVX has been the subject of several research reports. Piper Sandler restated an “overweight” rating and issued a $19.00 target price (down previously from $23.00) on shares of Enovix in a research note on Monday, August 5th. TD Cowen raised their price objective on Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. B. Riley raised shares of Enovix to a “strong-buy” rating in a research report on Tuesday, June 25th. Benchmark began coverage on shares of Enovix in a research report on Monday, July 22nd. They set a “buy” rating and a $25.00 price target for the company. Finally, Oppenheimer reissued an “outperform” rating and set a $36.00 price objective on shares of Enovix in a research note on Monday, August 26th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $21.33.

Enovix Stock Up 0.7 %

Shares of Enovix stock opened at $9.77 on Tuesday. The company has a 50-day simple moving average of $12.05 and a two-hundred day simple moving average of $10.55. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $18.68. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.84 and a current ratio of 3.98. The stock has a market capitalization of $1.72 billion, a PE ratio of -7.29 and a beta of 1.99.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. The business had revenue of $3.77 million for the quarter, compared to analysts’ expectations of $3.85 million. Enovix had a negative return on equity of 91.21% and a negative net margin of 1,434.34%. On average, analysts anticipate that Enovix Co. will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gregory Reichow sold 7,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $12.14, for a total transaction of $91,050.00. Following the sale, the director now owns 8,129 shares of the company’s stock, valued at approximately $98,686.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.30% of the stock is owned by corporate insiders.

Enovix Profile

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.