Thurston Springer Miller Herd & Titak Inc. Has $518,000 Stake in Enovix Co. (NASDAQ:ENVX)

Thurston Springer Miller Herd & Titak Inc. increased its stake in Enovix Co. (NASDAQ:ENVX) by 36.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,625 shares of the company’s stock after purchasing an additional 12,689 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Enovix were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC raised its position in Enovix by 63.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company’s stock valued at $60,085,000 after buying an additional 1,512,424 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of Enovix by 2,468.6% during the 3rd quarter. Fred Alger Management LLC now owns 588,614 shares of the company’s stock worth $5,498,000 after acquiring an additional 565,698 shares in the last quarter. Sora Investors LLC raised its holdings in shares of Enovix by 75.0% in the third quarter. Sora Investors LLC now owns 525,000 shares of the company’s stock valued at $4,904,000 after purchasing an additional 225,000 shares during the last quarter. Barclays PLC lifted its position in shares of Enovix by 376.9% in the third quarter. Barclays PLC now owns 252,012 shares of the company’s stock worth $2,353,000 after purchasing an additional 199,166 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Enovix by 5.4% during the third quarter. Geode Capital Management LLC now owns 3,583,685 shares of the company’s stock worth $33,477,000 after purchasing an additional 182,757 shares during the last quarter. Institutional investors own 50.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ENVX. JPMorgan Chase & Co. lowered their price target on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Janney Montgomery Scott lowered Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Finally, Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Insider Transactions at Enovix

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now directly owns 99,497 shares of the company’s stock, valued at $968,105.81. This represents a 42.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 15.70% of the stock is owned by corporate insiders.

Enovix Stock Up 2.1 %

ENVX opened at $10.78 on Thursday. The stock’s fifty day simple moving average is $9.95 and its 200 day simple moving average is $11.02. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. The stock has a market cap of $1.92 billion, a PE ratio of -6.70 and a beta of 1.86. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

Enovix (NASDAQ:ENVX) last posted its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The company had revenue of $4.30 million during the quarter, compared to analysts’ expectations of $4.11 million. During the same quarter last year, the company posted ($0.27) EPS. As a group, research analysts expect that Enovix Co. will post -1.17 earnings per share 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.