Brokerages Set Enovix Corporation (NASDAQ:ENVX) Price Target at $12.64

Shares of Enovix Corporation (NASDAQ:ENVX) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $12.6364.

A number of research analysts have recently commented on ENVX shares. TD Cowen reiterated a “buy” rating on shares of Enovix in a research report on Thursday, May 14th. Wells Fargo & Company set a $6.00 target price on Enovix in a research report on Thursday, March 12th. Wall Street Zen upgraded shares of Enovix from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Craig Hallum reduced their price objective on Enovix from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Benchmark cut their target price on shares of Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th.

Institutional Trading of Enovix

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Enovix in the 4th quarter valued at about $30,000. Parallel Advisors LLC raised its stake in shares of Enovix by 51.9% during 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 in the last quarter. CWM LLC lifted its position in Enovix by 95.4% during the fourth quarter. CWM LLC now owns 6,081 shares of the company’s stock valued at $44,000 after acquiring an additional 2,969 shares during the last quarter. Calamos Advisors LLC purchased a new stake in Enovix during the first quarter valued at approximately $60,000. Finally, Gateway Wealth Partners LLC acquired a new stake in Enovix in the first quarter valued at approximately $68,000. 50.92% of the stock is owned by hedge funds and other institutional investors.

Enovix Stock Up 5.3%

NASDAQ ENVX opened at $5.40 on Friday. Enovix has a 12 month low of $4.61 and a 12 month high of $16.49. The stock’s 50 day moving average is $6.64 and its 200 day moving average is $6.48. The company has a current ratio of 10.97, a quick ratio of 10.65 and a debt-to-equity ratio of 2.14. The stock has a market cap of $1.18 billion, a PE ratio of -6.51 and a beta of 2.26.

Enovix (NASDAQ:ENVX) last issued its earnings results on Wednesday, May 13th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. Enovix had a negative net margin of 499.64% and a negative return on equity of 64.28%. The firm had revenue of $7.60 million during the quarter, compared to analyst estimates of $6.95 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. Enovix’s revenue for the quarter was up 49.1% on a year-over-year basis. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. Research analysts predict that Enovix will post -0.79 EPS for the current fiscal 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.