XTX Topco Ltd Invests $820,000 in Enovix Co. (NASDAQ:ENVX)

XTX Topco Ltd purchased a new position in shares of Enovix Co. (NASDAQ:ENVX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 53,064 shares of the company’s stock, valued at approximately $820,000.

A number of other large investors also recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in shares of Enovix by 2.3% during the second quarter. Arizona State Retirement System now owns 40,097 shares of the company’s stock worth $620,000 after buying an additional 905 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Enovix by 1.9% in the fourth quarter. Corient Private Wealth LLC now owns 49,587 shares of the company’s stock valued at $621,000 after purchasing an additional 910 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Enovix by 102.1% in the second quarter. Blue Trust Inc. now owns 1,894 shares of the company’s stock valued at $29,000 after purchasing an additional 957 shares in the last quarter. Voisard Asset Management Group Inc. raised its stake in shares of Enovix by 25.0% in the second quarter. Voisard Asset Management Group Inc. now owns 5,000 shares of the company’s stock valued at $77,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Enovix by 7.7% in the second quarter. Principal Financial Group Inc. now owns 20,079 shares of the company’s stock valued at $310,000 after purchasing an additional 1,434 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Price Performance

Shares of ENVX stock opened at $8.45 on Monday. The stock’s fifty day moving average is $11.33 and its 200-day moving average is $10.52. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.84 and a current ratio of 3.98. The stock has a market capitalization of $1.44 billion, a PE ratio of -6.31 and a beta of 1.99. Enovix Co. has a 52 week low of $5.70 and a 52 week high of $18.68.

Enovix (NASDAQ:ENVX) last announced its earnings results on Wednesday, July 31st. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. The company had revenue of $3.77 million for the quarter, compared to analysts’ expectations of $3.85 million. Enovix had a negative return on equity of 91.21% and a negative net margin of 1,434.34%. Equities research analysts expect that Enovix Co. will post -1.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Canaccord Genuity Group upped their target price on Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Thursday, August 1st. TD Cowen upped their target price on Enovix from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Benchmark started coverage on Enovix in a research report on Monday, July 22nd. They issued a “buy” rating and a $25.00 price target on the stock. Finally, B. Riley upgraded Enovix to a “strong-buy” rating in a research report on Tuesday, June 25th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Enovix currently has an average rating of “Buy” and a consensus target price of $21.33.

About Enovix

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.