Enovix (NASDAQ:ENVX) Stock Bumped Up to Hold by TD Cowen

TD Cowen upgraded shares of Enovix (NASDAQ:ENVX) to a hold rating in a research note issued to investors on Monday morning,Zacks reports.

A number of other equities research analysts also recently weighed in on ENVX. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of Enovix in a research note on Thursday, August 13th. Loop Capital upgraded Enovix to a “strong-buy” rating in a report on Monday, August 17th. Craig Hallum set a $7.00 price objective on Enovix in a report on Thursday, August 13th. William Blair cut shares of Enovix from an “outperform” rating to a “market perform” rating in a research note on Monday, August 17th. Finally, Bank of America reissued a “neutral” rating and issued a $5.00 price objective on shares of Enovix in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.77.

Enovix Trading Down 4.6%

Shares of NASDAQ:ENVX opened at $2.67 on Monday. The firm has a fifty day moving average of $3.47 and a two-hundred day moving average of $5.17. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. Enovix has a 12-month low of $2.48 and a 12-month high of $14.21. The firm has a market capitalization of $585.93 million, a P/E ratio of -3.30 and a beta of 2.49.

Enovix (NASDAQ:ENVX) last posted its quarterly 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. The business had revenue of $9.02 million for the quarter, compared to the consensus estimate of $8.43 million. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. Enovix’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. On average, equities analysts expect that Enovix will post -0.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Enovix during the second quarter valued at about $100,054,000. Granahan Investment Management LLC boosted its stake in Enovix by 12.3% during the 4th quarter. Granahan Investment Management LLC now owns 1,964,565 shares of the company’s stock valued at $14,361,000 after purchasing an additional 214,916 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Enovix during the 2nd quarter valued at approximately $8,689,000. Bank of America Corp DE acquired a new stake in Enovix in the 2nd quarter valued at approximately $8,356,000. Finally, Bank of New York Mellon Corp acquired a new stake in Enovix in the 2nd quarter valued at approximately $3,551,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

About Enovix

Enovix Corporation is a battery technology company developing lithium-ion batteries that use a silicon-based anode and a three-dimensional cell architecture. The company’s design is intended to increase energy density while incorporating structural features designed to improve safety and cycle life compared with conventional lithium-ion batteries.

Enovix is focused initially on batteries for consumer electronics, including smartphones, wearable devices and other mobile products. It has also identified applications in industrial, medical, aerospace, defense and electric vehicle markets.