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

Enovix (NASDAQ:ENVX) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovix in a research note on Wednesday, July 8th. Loop Capital upgraded shares of Enovix to a “strong-buy” rating in a research note on Monday, August 17th. B. Riley Financial decreased their target price on shares of Enovix from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 price target on shares of Enovix in a report on Thursday, August 13th. Finally, Canaccord Genuity Group dropped their price target on shares of Enovix from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Enovix has a consensus rating of “Moderate Buy” and a consensus price target of $11.77.

Enovix Price Performance

Shares of ENVX opened at $3.10 on Friday. Enovix has a 52 week low of $3.06 and a 52 week high of $14.21. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $680.29 million, a price-to-earnings ratio of -3.83 and a beta of 2.31. The stock’s 50-day moving average price is $4.10 and its 200-day moving average price is $5.44.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $9.02 million for the quarter, compared to analyst estimates of $8.43 million. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%.Enovix’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. On average, sell-side analysts predict that Enovix will post -0.8 EPS for the current year.

Hedge Funds Weigh In On Enovix

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Enovix by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock valued at $722,000 after buying an additional 4,780 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Enovix by 10.4% during the 1st 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 period. Goldman Sachs Group Inc. lifted its position in shares of Enovix by 65.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock valued at $8,351,000 after buying an additional 449,934 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Enovix during the 1st quarter valued at approximately $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Enovix by 18.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock valued at $2,628,000 after acquiring an additional 55,676 shares during the period. Hedge funds and other institutional investors own 50.92% of the company’s stock.

About Enovix

Enovix Corporation (NASDAQ: ENVX) is a battery technology company developing lithium-ion batteries with silicon-anode materials and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while maintaining safety and durability for applications that require compact, high-performance energy storage.

The company’s battery platform incorporates a silicon anode, a stainless-steel constraint system and its BrakeFlow technology, which is designed to help prevent thermal runaway from spreading within a battery pack.