Thurston Springer Miller Herd & Titak Inc. Has $326,000 Stake in Enovix Co. (NASDAQ:ENVX)

Thurston Springer Miller Herd & Titak Inc. reduced its position in shares of Enovix Co. (NASDAQ:ENVX) by 37.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,936 shares of the company’s stock after selling 20,664 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Enovix were worth $326,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Strong Tower Advisory Services bought a new position in shares of Enovix during the 3rd quarter worth approximately $260,000. Udine Wealth Management Inc. grew its position in Enovix by 15.7% in the third quarter. Udine Wealth Management Inc. now owns 203,484 shares of the company’s stock valued at $1,901,000 after purchasing an additional 27,661 shares in the last quarter. SG Americas Securities LLC increased its stake in Enovix by 427.2% in the 3rd quarter. SG Americas Securities LLC now owns 46,989 shares of the company’s stock valued at $439,000 after buying an additional 38,076 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Enovix during the 2nd quarter worth about $1,867,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Enovix during the 2nd quarter worth about $39,000. 50.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Craig Hallum lifted their target price on Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. TD Cowen upped their price objective on Enovix from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Canaccord Genuity Group raised their target price on shares of Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Enovix in a research report on Thursday, August 1st. Finally, B. Riley raised shares of 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $21.33.

Enovix Stock Performance

Shares of ENVX stock opened at $12.81 on Tuesday. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -9.56 and a beta of 1.98. The company has a 50-day simple moving average of $9.94 and a 200 day simple moving average of $10.79. 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 posted its earnings results on Wednesday, July 31st. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. The company had revenue of $3.77 million for the quarter, compared to the consensus estimate 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, sell-side analysts predict that Enovix Co. will post -1.21 earnings per share for the current year.

About Enovix

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.