LJI Wealth Management LLC Has $690,000 Holdings in Enovix Co. (NASDAQ:ENVX)

LJI Wealth Management LLC grew its holdings in Enovix Co. (NASDAQ:ENVX) by 2.1% in the 3rd quarter, Holdings Channel reports. The fund owned 73,900 shares of the company’s stock after purchasing an additional 1,500 shares during the quarter. LJI Wealth Management LLC’s holdings in Enovix were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ENVX. Blue Trust Inc. boosted 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 purchasing an additional 957 shares during the period. GAMMA Investing LLC lifted its stake 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 buying an additional 2,347 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Enovix during the second quarter worth about $39,000. Beacon Capital Management LLC increased its stake in Enovix by 71.9% during the first quarter. Beacon Capital Management LLC now owns 4,298 shares of the company’s stock valued at $34,000 after acquiring an additional 1,798 shares during the period. Finally, Voisard Asset Management Group Inc. raised its holdings in Enovix by 25.0% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock valued at $77,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TD Cowen boosted their price objective on Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Craig Hallum increased their price objective on shares of Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enovix in a report on Monday, August 26th. Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Thursday, October 31st. Finally, Piper Sandler restated an “overweight” rating and set a $19.00 price target (down previously from $23.00) on shares of Enovix in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Insider Buying and Selling

In related news, insider Arthi Chakravarthy sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $13.00, for a total value of $455,000.00. Following the completion of the transaction, the insider now owns 343,305 shares in the company, valued at $4,462,965. The trade was a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.70% of the stock is owned by corporate insiders.

Enovix Price Performance

Shares of NASDAQ ENVX traded down $0.37 during mid-day trading on Friday, hitting $8.48. 4,403,857 shares of the stock were exchanged, compared to its average volume of 5,650,824. The company has a market cap of $1.51 billion, a P/E ratio of -5.27 and a beta of 1.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. Enovix Co. has a twelve month low of $5.70 and a twelve month high of $18.68. The stock’s fifty day simple moving average is $9.98 and its two-hundred day simple moving average is $11.26.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.03. The firm had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.11 million. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. During the same quarter in the previous year, the company posted ($0.27) EPS. As a group, analysts forecast that Enovix Co. will post -1.17 EPS for the current fiscal year.

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.