Enovix (NASDAQ:ENVX) Trading 7.5% Higher – Here’s Why

Shares of Enovix Corporation (NASDAQ:ENVX) traded up 7.5% during mid-day trading on Friday . The company traded as high as $8.50 and last traded at $8.4070. 5,518,255 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 6,171,681 shares. The stock had previously closed at $7.82.

Analysts Set New Price Targets

Several research firms have recently commented on ENVX. JPMorgan Chase & Co. lowered their price target on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Enovix in a research note on Monday, December 29th. Cantor Fitzgerald cut their price target on Enovix from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Canaccord Genuity Group cut their price target on shares of Enovix from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, Oppenheimer set a $24.00 price target on Enovix in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.50.

Enovix Stock Up 5.1%

The stock has a market cap of $1.77 billion, a P/E ratio of -10.13 and a beta of 2.13. The company has a current ratio of 9.72, a quick ratio of 9.47 and a debt-to-equity ratio of 1.74. The firm’s fifty day moving average is $8.06 and its 200 day moving average is $10.29.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. Enovix had a negative return on equity of 61.78% and a negative net margin of 525.93%.The company had revenue of $7.99 million for the quarter, compared to the consensus estimate of $7.94 million. During the same period last year, the business posted ($0.17) earnings per share. The firm’s revenue was up 86.0% compared to the same quarter last year. Enovix has set its Q4 2025 guidance at -0.200–0.160 EPS. As a group, equities research analysts forecast that Enovix Corporation will post -1.01 EPS for the current year.

Institutional Investors Weigh In On Enovix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitlin John LLC acquired a new position in Enovix during the 3rd quarter valued at $27,000. Parallel Advisors LLC increased its holdings in shares of Enovix by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock worth $39,000 after purchasing an additional 1,342 shares during the period. Stone House Investment Management LLC raised its position in shares of Enovix by 56.4% during the third quarter. Stone House Investment Management LLC now owns 7,922 shares of the company’s stock valued at $79,000 after buying an additional 2,857 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Enovix in the third quarter valued at about $80,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Enovix in the third quarter valued at about $100,000. Institutional investors and hedge funds 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.