---
title: "Mirae Asset Global Investments Co. Ltd. Lowers Holdings in Enovix Co. (NASDAQ:ENVX)"
description: "Mirae Asset Global Investments Co. Ltd. reduced its holdings in Enovix Co. (NASDAQ:ENVX) by 95.4% during the 4th quarter. Other hedge funds also made adjustments to their positions. Enovix has receive"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/202780050.md"
published_at: "2024-04-25T08:25:52.000Z"
---

# Mirae Asset Global Investments Co. Ltd. Lowers Holdings in Enovix Co. (NASDAQ:ENVX)

> Mirae Asset Global Investments Co. Ltd. reduced its holdings in Enovix Co. (NASDAQ:ENVX) by 95.4% during the 4th quarter. Other hedge funds also made adjustments to their positions. Enovix has received analyst ratings and has a target price of $30.00. The stock opened at $6.02 on Thursday. Enovix is a lithium-ion battery manufacturer.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Enovix Co. (NASDAQ:ENVX - Free Report) by 95.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

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Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Enovix during the third quarter valued at approximately $31,000. Beacon Capital Management LLC raised its position in Enovix by 66.7% during the fourth quarter. Beacon Capital Management LLC now owns 2,500 shares of the company's stock valued at $31,000 after purchasing an additional 1,000 shares during the period. Carmel Capital Partners LLC bought a new position in shares of Enovix during the third quarter valued at approximately $34,000. Cidel Asset Management Inc. bought a new position in shares of Enovix during the third quarter valued at approximately $131,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Enovix during the third quarter valued at approximately $133,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

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ENVX has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of Enovix in a research note on Wednesday, February 21st. Canaccord Genuity Group reaffirmed a "buy" rating and set a $17.00 target price on shares of Enovix in a research note on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $30.00.

-   Enovix: a short-squeeze candidate setting up for success

**Read Our Latest Research Report on ENVX**

## Enovix Stock Performance

Shares of ENVX opened at $6.02 on Thursday. Enovix Co. has a 12 month low of $5.80 and a 12 month high of $23.90. The stock has a fifty day moving average price of $8.42 and a 200-day moving average price of $10.16. 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 market cap of $1.01 billion, a PE ratio of -3.93 and a beta of 1.62.

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Enovix (NASDAQ:ENVX - Get Free Report) last issued 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 2,800.51% and a negative return on equity of 77.74%. The business had revenue of $7.38 million for the quarter, compared to analysts' expectations of $3.37 million. Equities research analysts predict that Enovix Co. will post -1.13 earnings per share for the current fiscal year.

## Insider Buying and Selling

In related news, COO Ajay Marathe sold 4,954 shares of the firm's stock in a transaction 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 owns 978,913 shares in the company, valued at approximately $7,155,854.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.30% of the stock is currently owned by company insiders.

## 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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*This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.*

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
