Enovix (NASDAQ:ENVX – Free Report) had its price objective cut by B. Riley Financial from $10.00 to $9.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.
ENVX has been the topic of a number of other research reports. Oppenheimer cut their price target on shares of Enovix from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Enovix from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. JPMorgan Chase & Co. downgraded Enovix from a “neutral” rating to an “underweight” rating in a research report on Wednesday, May 6th. Finally, Benchmark reduced their target price on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Enovix presently has an average rating of “Hold” and an average target price of $11.86.
View Our Latest Report on ENVX
Enovix Stock Performance
Enovix (NASDAQ:ENVX – Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $9.02 million during the quarter, compared to analyst estimates of $8.43 million. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. Enovix’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. As a group, equities analysts anticipate that Enovix will post -0.78 EPS for the current fiscal year.
Hedge Funds Weigh In On Enovix
Several hedge funds and other institutional investors have recently bought and sold shares of ENVX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Enovix by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock valued at $722,000 after acquiring an additional 4,780 shares during the period. NewEdge Advisors LLC increased its stake in shares of Enovix by 10.4% in the first 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 period. Goldman Sachs Group Inc. increased its stake in shares of Enovix by 65.4% in the first 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 period. Caxton Associates LLP acquired a new stake in shares of Enovix in the first quarter worth $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Enovix by 18.4% during 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 purchasing an additional 55,676 shares during the last quarter. 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.
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