Shares of Enovix Corporation (NASDAQ:ENVX – Get Free Report) fell 8.7% during trading on Tuesday . The company traded as low as $5.24 and last traded at $5.1290. Approximately 814,270 shares traded hands during trading, a decline of 87% from the average session volume of 6,403,803 shares. The stock had previously closed at $5.62.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on ENVX. Wall Street Zen raised Enovix from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Bank of America began coverage on Enovix in a research report on Thursday, March 12th. They set a “neutral” rating and a $6.00 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Enovix in a research note on Friday, April 10th. Craig Hallum cut their price objective on Enovix from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Oppenheimer reduced their price objective on Enovix from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Enovix currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.64.
Check Out Our Latest Stock Report on Enovix
Enovix Price Performance
Enovix (NASDAQ:ENVX – Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. Enovix had a negative return on equity of 64.28% and a negative net margin of 499.64%.The company had revenue of $7.60 million during the quarter, compared to the consensus estimate of $6.95 million. During the same period last year, the firm earned ($0.15) earnings per share. The company’s revenue was up 49.1% on a year-over-year basis. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. Research analysts predict that Enovix Corporation will post -0.79 EPS for the current fiscal year.
Institutional Investors Weigh In On Enovix
Several hedge funds and other institutional investors have recently bought and sold shares of ENVX. Caitong International Asset Management Co. Ltd purchased a new position in shares of Enovix during the 4th quarter valued at approximately $30,000. Parallel Advisors LLC increased its stake in shares of Enovix by 51.9% in the third quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock worth $39,000 after buying an additional 1,342 shares during the last quarter. CWM LLC raised its holdings in Enovix by 95.4% in the fourth quarter. CWM LLC now owns 6,081 shares of the company’s stock valued at $44,000 after acquiring an additional 2,969 shares in the last quarter. Calamos Advisors LLC bought a new position in Enovix during the 1st quarter valued at $60,000. Finally, Gateway Wealth Partners LLC bought a new position in Enovix during the 1st quarter valued at $68,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.
Enovix Company Profile
Enovix Corporation (NASDAQ: ENVX) develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.
Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.
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