Enovix Co. (NASDAQ:ENVX) Holdings Reduced by Doheny Asset Management CA

Doheny Asset Management CA reduced its stake in shares of Enovix Co. (NASDAQ:ENVX) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,946 shares of the company’s stock after selling 1,195 shares during the quarter. Enovix comprises approximately 2.5% of Doheny Asset Management CA’s holdings, making the stock its 9th largest position. Doheny Asset Management CA’s holdings in Enovix were worth $4,452,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. boosted its position in shares of Enovix by 102.1% during the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock worth $29,000 after acquiring an additional 957 shares during the last quarter. Able Wealth Management LLC purchased a new stake in Enovix in the 4th quarter worth $34,000. Beacon Capital Management LLC boosted its holdings in shares of Enovix by 71.9% during the 1st quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock valued at $34,000 after purchasing an additional 1,798 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Enovix by 11,176.2% during the second quarter. GAMMA Investing LLC now owns 2,368 shares of the company’s stock valued at $37,000 after purchasing an additional 2,347 shares in the last quarter. Finally, Voisard Asset Management Group Inc. bought a new stake in shares of Enovix in the fourth quarter worth about $50,000. Institutional investors own 50.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ENVX shares. Craig Hallum lifted their target price on Enovix from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enovix in a report on Monday, August 26th. Canaccord Genuity Group lifted their target price on Enovix from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 target price (down from $23.00) on shares of Enovix in a report on Monday, August 5th. Finally, B. Riley raised Enovix to a “strong-buy” rating in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Enovix presently has an average rating of “Buy” and a consensus target price of $21.33.

Enovix Trading Up 2.3 %

Shares of NASDAQ ENVX opened at $9.55 on Friday. The business’s 50 day moving average is $10.53 and its two-hundred day moving average is $10.52. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.98 and a quick ratio of 3.84. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. The stock has a market capitalization of $1.68 billion, a P/E ratio of -7.12 and a beta of 1.99.

Enovix (NASDAQ:ENVX) last released its earnings results on Wednesday, July 31st. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. The firm 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%. As a group, research analysts expect that Enovix Co. will post -1.21 EPS for the current year.

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.