PBMares Wealth Management LLC Sells 47,500 Shares of Enovix Corporation $ENVX

Key Points

• PBMares Wealth Management LLC reduced its holdings in Enovix Corporation by 61.3% during the second quarter, selling 47,500 shares and retaining 30,000 shares valued at $310,000.
• Enovix Corporation has garnered recent interest from large institutional investors, with Kingstone Capital Partners investing over $13 million and Goldman Sachs increasing its stake by 65.4%.
• Equities analysts have mixed ratings on Enovix, with five rating it a Buy and five a Hold, while the average target price stands at $17.00.

PBMares Wealth Management LLC lessened its holdings in Enovix Corporation (NASDAQ:ENVX - Free Report) by 61.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,000 shares of the company's stock after selling 47,500 shares during the period. PBMares Wealth Management LLC's holdings in Enovix were worth $310,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ENVX. Kingstone Capital Partners Texas LLC bought a new stake in Enovix in the second quarter worth $13,206,000. Electron Capital Partners LLC increased its position in Enovix by 18.6% in the first quarter. Electron Capital Partners LLC now owns 6,712,763 shares of the company's stock worth $49,272,000 after purchasing an additional 1,054,029 shares during the last quarter. CenterBook Partners LP increased its position in Enovix by 71.0% during the first quarter. CenterBook Partners LP now owns 1,736,570 shares of the company's stock valued at $12,746,000 after acquiring an additional 721,309 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Enovix by 65.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company's stock valued at $8,351,000 after acquiring an additional 449,934 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Enovix in the first quarter valued at $3,030,000. Institutional investors own 50.92% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Benchmark increased their target price on shares of Enovix from $15.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Cowen reissued a "hold" rating on shares of Enovix in a research note on Tuesday, July 8th. Wall Street Zen downgraded shares of Enovix from a "hold" rating to a "sell" rating in a research note on Saturday, September 6th. B. Riley reissued a "buy" rating and issued a $17.00 target price (up previously from $12.00) on shares of Enovix in a research note on Thursday, July 10th. Finally, Craig Hallum reissued a "buy" rating and issued a $15.00 target price (up previously from $12.00) on shares of Enovix in a research note on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

Enovix Price Performance

Shares of ENVX opened at $9.97 on Wednesday. The firm has a market capitalization of $1.96 billion, a P/E ratio of -11.87 and a beta of 2.08. Enovix Corporation has a 12-month low of $5.27 and a 12-month high of $16.49. The company has a current ratio of 4.37, a quick ratio of 4.11 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average price of $10.60 and a 200-day moving average price of $9.26.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. The firm had revenue of $7.50 million during the quarter, compared to analyst estimates of $5.48 million. Enovix had a negative net margin of 481.35% and a negative return on equity of 73.88%. The business's revenue was up 98.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180--0.140 EPS. Equities research analysts expect that Enovix Corporation will post -1.01 earnings per share for the current year.

Enovix announced that its board has authorized a share buyback program on Wednesday, July 2nd that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Enovix Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.

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