Enovix (NASDAQ:ENVX) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Enovix (NASDAQ:ENVX) from a strong sell rating to a sell rating in a report released on Saturday morning.

Several other analysts also recently commented on ENVX. Wells Fargo & Company set a $6.00 price objective on shares of Enovix in a research report on Thursday, March 12th. Bank of America initiated coverage on shares of Enovix in a research note on Thursday, March 12th. They set a “neutral” rating and a $6.00 target price for the company. Canaccord Genuity Group cut their target price on shares of Enovix from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Craig Hallum cut their target price on shares of Enovix from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. cut shares of Enovix from a “neutral” rating to an “underweight” rating in a research note on Wednesday, May 6th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Enovix has a consensus rating of “Moderate Buy” and a consensus target price of $12.64.

Enovix Stock Down 3.0%

Shares of ENVX stock opened at $6.11 on Friday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -7.36 and a beta of 2.24. Enovix has a one year low of $4.61 and a one year high of $16.49. The company’s fifty day moving average price is $5.82 and its 200-day moving average price is $7.10. The company has a debt-to-equity ratio of 1.90, a current ratio of 8.34 and a quick ratio of 8.13.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. The firm had revenue of $7.60 million for the quarter, compared to the consensus estimate of $6.95 million. Enovix had a negative net margin of 499.64% and a negative return on equity of 63.25%. The company’s revenue was up 49.1% on a year-over-year basis. During the same period last year, the firm earned ($0.15) EPS. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. Sell-side analysts expect that Enovix will post -0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovix

A number of institutional investors and hedge funds have recently made changes to their positions in ENVX. Caitlin John LLC purchased a new position in shares of Enovix in the 3rd quarter worth $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Enovix in the 4th quarter worth $30,000. Parallel Advisors LLC grew its stake in shares of Enovix by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock worth $39,000 after buying an additional 1,342 shares in the last quarter. CWM LLC grew its stake in shares of Enovix by 95.4% in the 4th quarter. CWM LLC now owns 6,081 shares of the company’s stock worth $44,000 after buying an additional 2,969 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new position in shares of Enovix in the 1st quarter worth $60,000. 50.92% of the stock is owned by hedge funds and other institutional investors.

Enovix News Roundup

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.