LJI Wealth Management LLC Sells 16,300 Shares of Enovix Co. (NASDAQ:ENVX)

LJI Wealth Management LLC lessened its stake in Enovix Co. (NASDAQ:ENVX) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,400 shares of the company’s stock after selling 16,300 shares during the quarter. LJI Wealth Management LLC’s holdings in Enovix were worth $1,119,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Enovix by 102.1% in the second 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 period. GAMMA Investing LLC raised its position 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 valued at $37,000 after purchasing an additional 2,347 shares during the period. Able Wealth Management LLC bought a new stake in shares of Enovix in the fourth quarter valued at approximately $34,000. Quest Partners LLC bought a new position in Enovix in the 4th quarter worth approximately $49,000. Finally, Voisard Asset Management Group Inc. purchased a new position in Enovix in the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Trading Down 8.2 %

Shares of Enovix stock opened at $8.49 on Thursday. 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 firm has a market cap of $1.50 billion, a PE ratio of -6.34 and a beta of 1.99. The company has a 50 day simple moving average of $11.89 and a two-hundred day simple moving average of $10.55.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ENVX shares. TD Cowen raised their price target on Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Canaccord Genuity Group lifted their target price on Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 1st. B. Riley raised shares of Enovix to a “strong-buy” rating in a report on Tuesday, June 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, August 1st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $36.00 target price 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 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.