tru Independence LLC Sells 4,325 Shares of Enovix Co. (NASDAQ:ENVX)

tru Independence LLC reduced its position in Enovix Co. (NASDAQ:ENVX) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,110 shares of the company’s stock after selling 4,325 shares during the quarter. tru Independence LLC owned approximately 0.18% of Enovix worth $4,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Enovix by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 13,093,710 shares of the company’s stock worth $104,881,000 after buying an additional 164,717 shares during the period. Electron Capital Partners LLC grew its position in shares of Enovix by 20.0% during the fourth quarter. Electron Capital Partners LLC now owns 3,239,296 shares of the company’s stock worth $40,556,000 after purchasing an additional 540,399 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Enovix by 2,228.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,438,011 shares of the company’s stock valued at $11,518,000 after purchasing an additional 1,376,253 shares during the period. Masters Capital Management LLC lifted its holdings in Enovix by 3.8% in the 1st quarter. Masters Capital Management LLC now owns 1,350,000 shares of the company’s stock worth $10,814,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Enovix by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,089,959 shares of the company’s stock worth $13,646,000 after purchasing an additional 55,157 shares in the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Enovix Stock Down 2.5 %

NASDAQ:ENVX opened at $7.95 on Friday. The company has a quick ratio of 3.84, a current ratio of 3.98 and a debt-to-equity ratio of 0.97. The business has a 50 day simple moving average of $12.83 and a 200-day simple moving average of $10.59. 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 results 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. Enovix had a negative return on equity of 91.21% and a negative net margin of 1,434.34%. The company had revenue of $3.77 million during the quarter, compared to the consensus estimate of $3.85 million. As a group, research analysts anticipate that Enovix Co. will post -1.21 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ENVX. Canaccord Genuity Group lifted their price objective on shares of Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target (down from $23.00) on shares of Enovix in a report on Monday, August 5th. TD Cowen increased their price objective on shares of Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, August 1st. 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. 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $21.33.

Insider Buying and Selling

In related news, Director Gregory Reichow sold 7,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $12.14, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.30% of the stock is owned by corporate insiders.

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.