Enovix Co. (NASDAQ:ENVX) Stock Position Increased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Enovix Co. (NASDAQ:ENVX) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,538 shares of the company’s stock after buying an additional 9,613 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of Enovix worth $1,017,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Coppell Advisory Solutions LLC acquired a new stake in Enovix in the 4th quarter valued at about $27,000. Fifth Third Bancorp lifted its stake in Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after purchasing an additional 1,000 shares during the last quarter. Sava Infond d.o.o. bought a new stake in Enovix during the fourth quarter worth approximately $43,000. Hollencrest Capital Management grew its position in Enovix by 61.4% in the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock worth $57,000 after buying an additional 2,000 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Enovix in the fourth quarter worth approximately $64,000. 50.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENVX has been the subject of a number of recent research reports. B. Riley cut their price objective on Enovix from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. reduced their target price on Enovix from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. TD Securities dropped their price target on Enovix from $10.00 to $7.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Benchmark reduced their price objective on shares of Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, Craig Hallum decreased their target price on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.27.

Enovix Trading Up 0.4%

NASDAQ:ENVX opened at $7.77 on Monday. The stock’s 50-day moving average is $6.96 and its two-hundred day moving average is $9.02. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The stock has a market cap of $1.49 billion, a PE ratio of -5.36 and a beta of 1.99. Enovix Co. has a fifty-two week low of $5.27 and a fifty-two week high of $18.68.

Insider Buying and Selling

In related news, CEO Rajendra K. Talluri sold 300,000 shares of Enovix stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the sale, the chief executive officer now owns 2,045,301 shares of the company’s stock, valued at approximately $19,123,564.35. This trade represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.70% of the stock is currently owned by corporate insiders.

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.