Enovix (NASDAQ:ENVX – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02, FiscalAI reports. The business had revenue of $9.02 million for the quarter, compared to the consensus estimate of $8.43 million. Enovix had a negative return on equity of 64.28% and a negative net margin of 499.64%. Enovix updated its Q3 2026 guidance to -0.170–0.130 EPS.
Enovix Trading Down 2.1%
Enovix stock traded down $0.10 during trading on Wednesday, hitting $4.73. The company’s stock had a trading volume of 8,703,170 shares, compared to its average volume of 6,361,176. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.70 and a beta of 2.32. The stock’s fifty day moving average is $5.54 and its 200 day moving average is $5.92. Enovix has a 1-year low of $3.67 and a 1-year high of $14.21. The company has a debt-to-equity ratio of 2.14, a quick ratio of 10.65 and a current ratio of 10.97.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Craig Hallum dropped their price objective on 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. lowered shares of Enovix from a “neutral” rating to an “underweight” rating in a report on Wednesday, May 6th. Benchmark decreased their price target on shares of Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Enovix from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Enovix presently has a consensus rating of “Hold” and an average target price of $12.50.
Institutional Trading of Enovix
Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in Enovix by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock valued at $39,000 after buying an additional 1,342 shares during the period. Mackenzie Financial Corp purchased a new position in shares of Enovix during the 4th quarter worth about $77,000. CIBC Asset Management Inc purchased a new position in shares of Enovix during the 4th quarter worth about $78,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Enovix in the third quarter worth approximately $80,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Enovix in the fourth quarter worth approximately $82,000. 50.92% of the stock is owned by institutional investors and hedge funds.
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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