Craig Hallum Lowers Enovix (NASDAQ:ENVX) Price Target to $8.00

Enovix (NASDAQ:ENVX) had its price objective dropped by stock analysts at Craig Hallum from $10.00 to $8.00 in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective indicates a potential upside of 30.93% from the stock’s current price.

ENVX has been the topic of several other research reports. B. Riley Financial dropped their price objective on Enovix from $17.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. TD Cowen dropped their price objective on Enovix from $15.00 to $7.50 and set a “hold” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovix in a report on Friday, April 10th. Bank of America assumed coverage on Enovix in a report on Thursday, March 12th. They set a “neutral” rating and a $6.00 price objective on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Enovix in a report on Thursday, February 26th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and a consensus target price of $12.64.

Enovix Stock Performance

Shares of ENVX stock opened at $6.11 on Thursday. The stock’s 50-day moving average is $5.82 and its two-hundred day moving average is $7.10. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -7.36 and a beta of 2.24. Enovix has a 1 year low of $4.61 and a 1 year high of $16.49. The company has a debt-to-equity ratio of 1.90, a quick ratio of 8.13 and a current ratio of 8.34.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $7.60 million for the quarter, compared to analyst estimates of $6.95 million. Enovix had a negative return on equity of 63.25% and a negative net margin of 499.64%.The business’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) earnings per share. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. Analysts predict that Enovix will post -0.81 earnings per share for the current year.

Hedge Funds Weigh In On Enovix

A number of hedge funds and other institutional investors have recently made changes to their positions in ENVX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Enovix by 5.1% during the first 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 grew its holdings in shares of Enovix by 10.4% during the first quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock worth $193,000 after buying an additional 2,481 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Enovix by 65.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock worth $8,351,000 after buying an additional 449,934 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Enovix during the first quarter worth about $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 buying an additional 55,676 shares during the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Key Enovix News

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: Enovix’s Q1 results beat revenue expectations and the company reported a smaller-than-expected loss, while management highlighted revenue growth and strategic progress on the earnings call. Enovix Corp (ENVX) Q1 2026 Earnings Call Highlights: Strong Revenue Growth and Strategic Alignments
• Positive Sentiment: Unusually heavy call option activity suggests some traders are betting on a rebound in Enovix shares. Enovix (NASDAQ:ENVX) Price Target Cut to $21.00 by Analysts at Oppenheimer
• Neutral Sentiment: Oppenheimer, Benchmark, Craig Hallum, and TD Cowen all reduced their price targets on Enovix, but most still kept constructive ratings, signaling lower valuation expectations rather than a full thesis change. Enovix (NASDAQ:ENVX) Given New $15.00 Price Target at Benchmark Enovix (NASDAQ:ENVX) Price Target Lowered to $8.00 at Craig Hallum Enovix (NASDAQ:ENVX) Price Target Cut to $7.00 by Analysts at TD Cowen
• Negative Sentiment: Investors are also focused on Enovix’s widening losses and the uncertain timeline for commercialization, which appeared to weigh on the stock after earnings. Enovix sinks as losses widen; commercialization timeline remains in focus

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.