Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 95.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,758 shares of the company's stock after selling 1,285,312 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Enovix were worth $773,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Capital Management LLC raised its position in Enovix by 66.7% in the fourth quarter. Beacon Capital Management LLC now owns 2,500 shares of the company's stock worth $31,000 after acquiring an additional 1,000 shares during the period. Amalgamated Bank grew its position in shares of Enovix by 5.9% during the 3rd quarter. Amalgamated Bank now owns 20,827 shares of the company's stock valued at $261,000 after acquiring an additional 1,154 shares during the period. Victory Capital Management Inc. grew its position in shares of Enovix by 10.5% during the 3rd quarter. Victory Capital Management Inc. now owns 14,253 shares of the company's stock valued at $179,000 after acquiring an additional 1,351 shares during the period. Insight Advisors LLC PA grew its position in shares of Enovix by 3.2% during the 4th quarter. Insight Advisors LLC PA now owns 44,354 shares of the company's stock valued at $555,000 after acquiring an additional 1,370 shares during the period. Finally, Scotia Capital Inc. grew its position in shares of Enovix by 7.7% during the 3rd quarter. Scotia Capital Inc. now owns 19,680 shares of the company's stock valued at $247,000 after acquiring an additional 1,410 shares during the period. 50.92% of the stock is owned by institutional investors.
Enovix Price Performance
Shares of Enovix stock traded down $0.18 during trading on Thursday, reaching $5.84. 3,694,860 shares of the stock traded hands, compared to its average volume of 4,402,090. The company has a market capitalization of $984.04 million, a price-to-earnings ratio of -3.76 and a beta of 1.62. The business has a fifty day simple moving average of $8.42 and a two-hundred day simple moving average of $10.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.30 and a quick ratio of 5.15. Enovix Co. has a 52-week low of $5.70 and a 52-week high of $23.90.
Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). The firm had revenue of $7.38 million for the quarter, compared to analysts' expectations of $3.37 million. Enovix had a negative net margin of 2,800.51% and a negative return on equity of 77.74%. Sell-side analysts expect that Enovix Co. will post -1.13 EPS for the current year.
Wall Street Analyst Weigh In
ENVX has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research report on Thursday. Canaccord Genuity Group reiterated a "buy" rating and issued a $17.00 price target on shares of Enovix in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.
Get Our Latest Stock Report on ENVX
Insider Activity at Enovix
In other Enovix news, COO Ajay Marathe sold 4,954 shares of the firm's stock in a transaction dated Sunday, April 14th. The shares were sold at an average price of $7.31, for a total value of $36,213.74. Following the completion of the sale, the chief operating officer now owns 978,913 shares of the company's stock, valued at $7,155,854.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 17.30% of the stock is owned by insiders.
Enovix Company Profile
(
Free Report)
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.
See Also
Before you consider Enovix, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enovix wasn't on the list.
While Enovix currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
