Enovix (NASDAQ:ENVX – Free Report) had its target price trimmed by TD Cowen from $7.00 to $5.50 in a research note released on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.
Other research analysts have also issued reports about the stock. Craig Hallum reduced their price target on shares of Enovix from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. JPMorgan Chase & Co. downgraded Enovix from a “neutral” rating to an “underweight” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Enovix in a research note on Wednesday, July 8th. Wall Street Zen upgraded Enovix from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Benchmark decreased their target price on Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.50.
View Our Latest Report on Enovix
Enovix Price Performance
Enovix (NASDAQ:ENVX – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $7.60 million during the quarter, compared to analysts’ expectations of $6.95 million. Enovix had a negative net margin of 499.64% and a negative return on equity of 64.28%. Enovix’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) earnings per share. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. As a group, sell-side analysts predict that Enovix will post -0.79 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Enovix
A number of hedge funds and other institutional investors have recently bought and sold shares of ENVX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Enovix by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock worth $722,000 after buying an additional 4,780 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Enovix by 10.4% during the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock worth $193,000 after acquiring an additional 2,481 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Enovix by 65.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock worth $8,351,000 after acquiring an additional 449,934 shares during the last quarter. Caxton Associates LLP purchased a new position in Enovix in the first quarter worth $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Enovix by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock worth $2,628,000 after acquiring an additional 55,676 shares in the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.
About Enovix
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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