California State Teachers Retirement System Boosts Position in Enovix Co. (NASDAQ:ENVX)

California State Teachers Retirement System lifted its position in shares of Enovix Co. (NASDAQ:ENVX) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,206 shares of the company’s stock after buying an additional 3,870 shares during the quarter. California State Teachers Retirement System owned approximately 0.07% of Enovix worth $1,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Coppell Advisory Solutions LLC purchased a new position in Enovix during the 4th quarter valued at about $27,000. Sava Infond d.o.o. acquired a new stake in shares of Enovix in the fourth quarter valued at approximately $43,000. Hollencrest Capital Management increased its stake in shares of Enovix by 61.4% during the 4th quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock worth $57,000 after purchasing an additional 2,000 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Enovix during the 4th quarter worth approximately $65,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Enovix in the 4th quarter valued at approximately $87,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Trading Up 3.5%

NASDAQ ENVX opened at $8.31 on Monday. The company has a market cap of $1.60 billion, a P/E ratio of -5.73 and a beta of 2.00. Enovix Co. has a 12 month low of $5.27 and a 12 month high of $18.68. 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 company has a 50-day moving average of $6.95 and a 200-day moving average of $8.95.

Wall Street Analysts Forecast Growth

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

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.