Enovix Corporation $ENVX Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its holdings in shares of Enovix Corporation (NASDAQ:ENVX) by 42.4% in the first quarter, Holdings Channel reports. The firm owned 476,903 shares of the company’s stock after selling 351,606 shares during the quarter. First Trust Advisors LP’s holdings in Enovix were worth $2,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Parallel Advisors LLC lifted 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 acquiring an additional 1,342 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Enovix in the fourth quarter valued at $30,000. CWM LLC raised its position in Enovix by 95.4% during the fourth quarter. CWM LLC now owns 6,081 shares of the company’s stock worth $44,000 after acquiring an additional 2,969 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Enovix in the 3rd quarter valued at approximately $80,000. Finally, Bowman & Co S.C. acquired a new stake in shares of Enovix during the fourth quarter valued at $73,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ENVX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Enovix from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Benchmark dropped their price objective on shares of Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. TD Cowen reduced their target price on Enovix from $7.00 to $5.50 and set a “hold” rating for the company in a research note on Friday, July 24th. Finally, Craig Hallum decreased their price target on Enovix from $10.00 to $8.00 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 assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Enovix currently has an average rating of “Hold” and a consensus target price of $12.50.

Enovix Stock Up 10.3%

Enovix stock opened at $4.70 on Friday. The company has a 50-day simple moving average of $5.69 and a 200-day simple moving average of $5.98. Enovix Corporation has a one year low of $3.67 and a one year high of $14.21. The firm has a market capitalization of $1.03 billion, a P/E ratio of -5.66 and a beta of 2.32. The company has a debt-to-equity ratio of 2.14, a quick ratio of 10.65 and a current ratio of 10.97.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Enovix had a negative return on equity of 64.28% and a negative net margin of 499.64%.The company had revenue of $7.60 million for the quarter, compared to analysts’ expectations of $6.95 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. As a group, equities analysts expect that Enovix Corporation will post -0.79 earnings per share for the current year.

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.