Thurston Springer Miller Herd & Titak Inc. Sells 20,664 Shares of Enovix Co. (NASDAQ:ENVX)

Thurston Springer Miller Herd & Titak Inc. lessened its stake in shares of Enovix Co. (NASDAQ:ENVX) by 37.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,936 shares of the company’s stock after selling 20,664 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Enovix were worth $326,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ENVX. Arizona State Retirement System boosted its holdings in Enovix by 2.3% during the second quarter. Arizona State Retirement System now owns 40,097 shares of the company’s stock valued at $620,000 after acquiring an additional 905 shares during the period. Blue Trust Inc. grew its holdings in Enovix by 102.1% in the 2nd quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after buying an additional 957 shares during the last quarter. Voisard Asset Management Group Inc. increased its position in Enovix by 25.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock worth $77,000 after buying an additional 1,000 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Enovix by 7.7% during the second quarter. Principal Financial Group Inc. now owns 20,079 shares of the company’s stock worth $310,000 after buying an additional 1,434 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC boosted its position in shares of Enovix by 9.7% in the second quarter. Kohmann Bosshard Financial Services LLC now owns 17,000 shares of the company’s stock valued at $263,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Price Performance

Shares of Enovix stock opened at $12.81 on Tuesday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -9.56 and a beta of 1.98. The firm’s 50-day moving average price is $9.94 and its two-hundred day moving average price is $10.79. The company has a current ratio of 3.98, a quick ratio of 3.84 and a debt-to-equity ratio of 0.97. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68.

Enovix (NASDAQ:ENVX) last issued 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. Enovix had a negative return on equity of 91.21% and a negative net margin of 1,434.34%. The firm had revenue of $3.77 million during the quarter, compared to the consensus estimate of $3.85 million. On average, equities analysts predict that Enovix Co. will post -1.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of Enovix in a research note on Thursday, August 1st. TD Cowen upped their price objective on shares of Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and set a $19.00 price objective (down previously from $23.00) on shares of Enovix in a report on Monday, August 5th. Canaccord Genuity Group upped their target price on Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, B. Riley raised Enovix to a “strong-buy” rating in a research report on Tuesday, June 25th. One 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $21.33.

Enovix Company 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.