New York State Common Retirement Fund lowered its position in Enovix Co. (NASDAQ:ENVX - Free Report) by 71.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 94,230 shares of the company's stock after selling 233,124 shares during the period. New York State Common Retirement Fund owned 0.06% of Enovix worth $1,180,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Electron Capital Partners LLC lifted its position in shares of Enovix by 188.0% during the 3rd quarter. Electron Capital Partners LLC now owns 2,698,897 shares of the company's stock valued at $33,871,000 after acquiring an additional 1,761,834 shares during the period. Vanguard Group Inc. increased its position in Enovix by 9.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,415,485 shares of the company's stock valued at $155,814,000 after buying an additional 1,072,508 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Enovix during the third quarter valued at approximately $7,290,000. Sora Investors LLC acquired a new position in shares of Enovix during the third quarter worth approximately $3,765,000. Finally, tru Independence LLC bought a new position in shares of Enovix in the 3rd quarter worth $3,745,000. 50.92% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently commented on ENVX shares. Canaccord Genuity Group reissued a "buy" rating and set a $17.00 target price on shares of Enovix in a research report on Wednesday, February 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of Enovix in a research note on Thursday, April 25th. Craig Hallum cut their target price on Enovix from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on Enovix from $18.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, April 26th. Finally, B. Riley dropped their price objective on Enovix from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.33.
Get Our Latest Research Report on Enovix
Insider Activity at Enovix
In other news, COO Ajay Marathe sold 4,954 shares of the company's stock in a transaction dated Sunday, April 14th. The stock was sold at an average price of $7.31, for a total transaction of $36,213.74. Following the sale, the chief operating officer now directly owns 978,913 shares in the company, valued at $7,155,854.03. The sale was disclosed in a document filed with the SEC, which is available at this link. 17.30% of the stock is currently owned by corporate insiders.
Enovix Stock Performance
ENVX traded down $0.63 during midday trading on Friday, reaching $8.51. The company had a trading volume of 2,969,143 shares, compared to its average volume of 6,970,841. Enovix Co. has a 12-month low of $5.70 and a 12-month high of $23.90. The business has a 50-day moving average price of $7.81 and a two-hundred day moving average price of $9.97. The stock has a market cap of $1.45 billion, a PE ratio of -6.35 and a beta of 1.70. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.15 and a current ratio of 4.89.
Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.01). Enovix had a negative net margin of 1,448.90% and a negative return on equity of 85.47%. The firm had revenue of $7.38 million during the quarter, compared to analysts' expectations of $3.37 million. On average, sell-side analysts expect that Enovix Co. will post -1.15 earnings per share for the current fiscal year.
About Enovix
(
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.
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