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 twelve ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $11.7727.

ENVX has been the subject of a number of recent research reports. TD Cowen lowered their target price on Enovix from $7.00 to $5.50 and set a “hold” rating for the company in a report on Friday, July 24th. B. Riley Financial cut their price target on Enovix from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Canaccord Genuity Group reduced their price target on Enovix from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Benchmark lowered their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Craig Hallum set a $7.00 price objective on shares of Enovix in a report on Thursday, August 13th.

Enovix Stock Performance

Shares of Enovix stock opened at $3.36 on Monday. Enovix has a fifty-two week low of $3.06 and a fifty-two week high of $14.21. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37. The firm has a market capitalization of $737.35 million, a P/E ratio of -4.15 and a beta of 2.32. The company’s 50 day moving average price is $4.64 and its two-hundred day moving average price is $5.63.

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

Hedge Funds Weigh In On Enovix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $722,000 after purchasing an additional 4,780 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in 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 holdings in Enovix by 65.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock worth $8,351,000 after buying an additional 449,934 shares during the period. Caxton Associates LLP bought a new stake in shares of Enovix in the 1st quarter valued at about $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 buying an additional 55,676 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

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.