Enovix Co. (NASDAQ:ENVX) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System lifted its position in Enovix Co. (NASDAQ:ENVX) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,049 shares of the company’s stock after purchasing an additional 2,023 shares during the quarter. Arizona State Retirement System’s holdings in Enovix were worth $476,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ENVX. Electron Capital Partners LLC boosted its position in shares of Enovix by 188.0% in the 3rd quarter. Electron Capital Partners LLC now owns 2,698,897 shares of the company’s stock valued at $33,871,000 after purchasing an additional 1,761,834 shares during the period. BlackRock Inc. lifted its position in Enovix by 24.7% during the 2nd quarter. BlackRock Inc. now owns 8,635,683 shares of the company’s stock worth $155,788,000 after acquiring an additional 1,713,057 shares during the period. State Street Corp lifted its position in Enovix by 392.4% during the 2nd quarter. State Street Corp now owns 1,935,508 shares of the company’s stock worth $17,245,000 after acquiring an additional 1,542,457 shares during the period. Vanguard Group Inc. lifted its position in Enovix by 9.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,415,485 shares of the company’s stock worth $155,814,000 after acquiring an additional 1,072,508 shares during the period. Finally, Norges Bank acquired a new stake in Enovix during the 4th quarter worth approximately $13,142,000. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Enovix

In related news, COO Ajay Marathe sold 4,954 shares of the firm’s stock in a transaction that occurred on Sunday, April 14th. The stock was sold at an average price of $7.31, for a total value of $36,213.74. Following the completion of the transaction, the chief operating officer now directly owns 978,913 shares of the company’s stock, valued at approximately $7,155,854.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ENVX has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Wednesday, February 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Enovix in a research report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

Enovix Stock Performance

Shares of ENVX stock opened at $6.26 on Friday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -4.09 and a beta of 1.62. The stock has a 50 day simple moving average of $8.75 and a 200-day simple moving average of $10.25. Enovix Co. has a 12-month low of $5.86 and a 12-month high of $23.90. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.65.

Enovix (NASDAQ:ENVX) last issued its earnings results on Tuesday, February 20th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.01). The business had revenue of $7.38 million for the quarter, compared to analysts’ expectations of $3.37 million. Enovix had a negative return on equity of 77.74% and a negative net margin of 2,800.51%. On average, equities analysts forecast that Enovix Co. will post -1.13 EPS for the current 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.