Shares of Enovix Corporation (NASDAQ:ENVX – Get Free Report) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $10.77.
Several research analysts recently issued reports on ENVX shares. Loop Capital upgraded Enovix to a “strong-buy” rating in a research report on Monday, August 17th. TD Cowen raised Enovix to a “hold” rating in a research note on Monday, October 5th. B. Riley Financial lowered their target price on Enovix from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Canaccord Genuity Group lowered their target price on Enovix from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, Craig Hallum set a $7.00 price target on Enovix in a research report on Thursday, August 13th.
Check Out Our Latest Stock Report on ENVX
Enovix Stock Performance
NASDAQ:ENVX opened at $2.49 on Tuesday. The company has a current ratio of 9.71, a quick ratio of 9.37 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $546.43 million, a P/E ratio of -3.07 and a beta of 2.49. The firm has a 50-day moving average price of $3.18 and a two-hundred day moving average price of $5.01. Enovix has a twelve month low of $2.35 and a twelve month high of $12.69.
Enovix (NASDAQ:ENVX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. The company had revenue of $9.02 million for the quarter, compared to the consensus estimate of $8.43 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. As a group, research analysts expect that Enovix will post -0.79 earnings per share for the current fiscal year.
Institutional Trading of Enovix
Several institutional investors and hedge funds have recently made changes to their positions in ENVX. Sax Wealth Advisors LLC acquired a new stake in shares of Enovix during the third quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new position in Enovix in the 4th quarter valued at about $30,000. Calamos Advisors LLC purchased a new position in Enovix in the 1st quarter valued at about $60,000. Sequoia Financial Advisors LLC purchased a new position in Enovix in the 2nd quarter valued at about $61,000. Finally, Gateway Wealth Partners LLC acquired a new stake in shares of Enovix during the 1st quarter worth about $68,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.
About Enovix
Enovix Corporation is a battery technology company developing lithium-ion batteries that use a silicon-based anode and a three-dimensional cell architecture. The company’s design is intended to increase energy density while incorporating structural features designed to improve safety and cycle life compared with conventional lithium-ion batteries.
Enovix is focused initially on batteries for consumer electronics, including smartphones, wearable devices and other mobile products. It has also identified applications in industrial, medical, aerospace, defense and electric vehicle markets.
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