EPIQ Capital Group LLC Sells 5,171 Shares of 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 filing with the Securities & Exchange Commission. The firm owned 14,170 shares of the company’s stock after selling 5,171 shares during the quarter. EPIQ Capital Group LLC’s holdings in Enovix were worth $219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ENVX. Blue Trust Inc. raised its holdings in Enovix by 102.1% in the 2nd quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock worth $29,000 after purchasing an additional 957 shares during the period. GAMMA Investing LLC raised its stake in shares of Enovix by 11,176.2% in the second quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock worth $37,000 after buying an additional 2,347 shares during the period. Able Wealth Management LLC purchased a new position in shares of Enovix during the 4th quarter valued at about $34,000. Quest Partners LLC bought a new position in shares of Enovix during the 4th quarter valued at approximately $49,000. Finally, Voisard Asset Management Group Inc. purchased a new stake in Enovix in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Insider Buying and Selling at Enovix

In other news, Director Gregory Reichow sold 7,500 shares of Enovix stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $12.14, for a total value of $91,050.00. Following the completion of the transaction, the director now owns 8,129 shares in the company, valued at approximately $98,686.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 17.30% of the company’s stock.

Enovix Stock Up 0.7 %

NASDAQ ENVX opened at $9.77 on Tuesday. The stock has a 50 day moving average price of $12.05 and a 200-day moving average price of $10.55. Enovix Co. has a one year low of $5.70 and a one year high of $18.68. The company has a market capitalization of $1.72 billion, a P/E ratio of -7.29 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.84 and a current ratio of 3.98.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ENVX. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target (down from $23.00) on shares of Enovix in a research report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Thursday, August 1st. Craig Hallum raised their price target on Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 1st. B. Riley raised Enovix to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, Oppenheimer reissued an “outperform” rating and set a $36.00 target price on shares of Enovix in a research note on Monday, August 26th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $21.33.

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.