Enovix Co. (NASDAQ:ENVX) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its stake in Enovix Co. (NASDAQ:ENVX) by 95.4% in the 4th quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Enovix in the third quarter worth $31,000. Beacon Capital Management LLC grew its stake in shares of 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 in the last quarter. Carmel Capital Partners LLC acquired a new position in shares of Enovix in the third quarter worth $34,000. Cidel Asset Management Inc. acquired a new position in shares of Enovix in the third quarter worth $131,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Enovix in the third quarter worth $133,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Insider Activity at Enovix

In related news, COO Ajay Marathe sold 4,954 shares of the business’s stock in a transaction on 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 directly owns 978,913 shares of the company’s stock, valued at $7,155,854.03. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 17.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on ENVX. Canaccord Genuity Group restated a “buy” rating and issued a $17.00 price target on shares of Enovix in a research note on Wednesday, February 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Enovix Stock Performance

Shares of ENVX stock opened at $6.02 on Thursday. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average price of $8.42 and a 200 day moving average price of $10.16. The company has a market cap of $1.01 billion, a P/E ratio of -3.93 and a beta of 1.62. Enovix Co. has a 12 month low of $5.80 and a 12 month high of $23.90.

Enovix (NASDAQ:ENVX) last issued its earnings results on Tuesday, February 20th. The company reported ($0.35) EPS 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 analyst estimates of $3.37 million. Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. Sell-side analysts predict that Enovix Co. will post -1.13 earnings per share for the current fiscal 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.