Enovix Corporation (NASDAQ:ENVX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Enovix Corporation (NASDAQ:ENVX) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.6364.

ENVX has been the topic of a number of recent analyst reports. Oppenheimer cut their target price on Enovix from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Wall Street Zen raised Enovix from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. TD Cowen reaffirmed a “buy” rating on shares of Enovix in a research report on Thursday, May 14th. Craig Hallum cut their target price on Enovix from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. lowered Enovix from a “neutral” rating to an “underweight” rating in a research report on Wednesday, May 6th.

Enovix Stock Down 7.8%

ENVX opened at $6.75 on Wednesday. Enovix has a one year low of $4.61 and a one year high of $16.49. The company has a debt-to-equity ratio of 2.14, a quick ratio of 10.65 and a current ratio of 10.97. The stock’s fifty day moving average is $6.57 and its 200-day moving average is $6.77. The company has a market capitalization of $1.47 billion, a PE ratio of -8.13 and a beta of 2.27.

Enovix (NASDAQ:ENVX) last announced its earnings results on Wednesday, May 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 64.28% and a negative net margin of 499.64%.Enovix’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) earnings per share. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. On average, equities analysts predict that Enovix will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Enovix

A number of institutional investors and hedge funds have recently modified their holdings of ENVX. Principal Financial Group Inc. raised its position in Enovix by 7.6% during the third quarter. Principal Financial Group Inc. now owns 12,613 shares of the company’s stock valued at $126,000 after buying an additional 895 shares during the period. Private Advisor Group LLC raised its position in Enovix by 2.7% during the third quarter. Private Advisor Group LLC now owns 46,519 shares of the company’s stock valued at $464,000 after buying an additional 1,242 shares during the period. Parallel Advisors LLC raised its position in Enovix by 51.9% during the third quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock valued at $39,000 after buying an additional 1,342 shares during the period. Equitable Holdings Inc. raised its position in Enovix by 10.9% during the third quarter. Equitable Holdings Inc. now owns 13,700 shares of the company’s stock valued at $137,000 after buying an additional 1,342 shares during the period. Finally, Claro Advisors LLC raised its position in Enovix by 2.9% during the third quarter. Claro Advisors LLC now owns 64,578 shares of the company’s stock valued at $644,000 after buying an additional 1,850 shares during the period. 50.92% of the stock is owned by institutional investors and hedge funds.

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.