Enovix Corporation (NASDAQ:ENVX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Enovix Corporation (NASDAQ:ENVX) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $12.6364.

A number of equities research analysts have commented on the company. B. Riley Financial reduced their target price on Enovix from $17.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Canaccord Genuity Group cut their price objective on Enovix from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Craig Hallum cut 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. Wall Street Zen upgraded Enovix from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. downgraded Enovix from a “neutral” rating to an “underweight” rating in a report on Wednesday, May 6th.

Enovix Price Performance

NASDAQ:ENVX opened at $6.68 on Friday. Enovix has a 52 week low of $4.61 and a 52 week high of $16.49. The company has a quick ratio of 10.65, a current ratio of 10.97 and a debt-to-equity ratio of 2.14. The company has a market capitalization of $1.46 billion, a P/E ratio of -8.05 and a beta of 2.24. The stock’s fifty day moving average is $5.94 and its two-hundred day moving average is $6.91.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, May 13th. The company reported ($0.14) EPS 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 the consensus estimate of $6.95 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. The company’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. Equities analysts expect that Enovix will post -0.81 EPS for the current year.

Institutional Investors Weigh In On Enovix

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Enovix by 10.9% during the 4th quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company’s stock worth $129,831,000 after purchasing an additional 1,747,145 shares during the period. Millennium Management LLC increased its holdings in Enovix by 1,038.9% during the 3rd quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock worth $14,724,000 after purchasing an additional 1,347,200 shares during the period. Two Sigma Investments LP increased its holdings in Enovix by 9,197.1% during the 3rd quarter. Two Sigma Investments LP now owns 1,200,997 shares of the company’s stock worth $11,974,000 after purchasing an additional 1,188,079 shares during the period. Barclays PLC increased its holdings in Enovix by 263.1% during the 4th quarter. Barclays PLC now owns 1,551,941 shares of the company’s stock worth $11,345,000 after purchasing an additional 1,124,480 shares during the period. Finally, Electron Capital Partners LLC increased its holdings in Enovix by 13.8% during the 3rd quarter. Electron Capital Partners LLC now owns 8,038,396 shares of the company’s stock worth $80,143,000 after purchasing an additional 972,103 shares during the period. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Company Profile

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.