Enovix (NASDAQ:ENVX) Rating Lowered to “Neutral” at B. Riley Financial

Enovix (NASDAQ:ENVX) was downgraded by analysts at B. Riley Financial from a “buy” rating to a “neutral” rating in a research note issued on Friday, Briefing.com reports. They currently have a $2.00 price objective on the stock. B. Riley Financial‘s target price indicates a potential upside of 11.11% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. William Blair lowered Enovix from an “outperform” rating to a “market perform” rating in a research note on Monday, August 17th. TD Cowen upgraded Enovix to a “hold” rating in a report on Monday, October 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of Enovix in a report on Thursday, August 13th. Northland Securities set a $4.00 price target on Enovix in a research report on Tuesday, October 13th. Finally, Craig Hallum cut Enovix from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a report on Friday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.80.

Enovix Stock Down 28.9%

Shares of Enovix stock opened at $1.80 on Friday. The company has a fifty day moving average price of $2.82 and a 200 day moving average price of $4.93. The company has a current ratio of 9.71, a quick ratio of 9.37 and a debt-to-equity ratio of 2.46. Enovix has a twelve month low of $1.78 and a twelve month high of $9.19. The stock has a market cap of $395.01 million, a price-to-earnings ratio of -2.22 and a beta of 2.34.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Friday, November 13th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.05. The company had revenue of $11.04 million for the quarter. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%. Equities research analysts forecast that Enovix will post -0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enovix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Enovix during the 2nd quarter worth $100,054,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enovix in the 2nd quarter worth $8,689,000. Bank of America Corp DE purchased a new position in Enovix in the 2nd quarter valued at about $8,356,000. Bank of New York Mellon Corp purchased a new position in Enovix in the 2nd quarter valued at about $3,551,000. Finally, Deutsche Bank AG purchased a new position in Enovix in the 2nd quarter valued at about $3,343,000. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Key Enovix News

Here’s some of the latest news about ENVX:

• Positive Sentiment: Q3 2026 revenue rose 38% year over year to about $11 million, with drone and defense customers driving growth. Enovix forecast 2027 revenue of $65 million–$85 million, supported by a reported $37 million backlog, and plans to double capacity at its South Korean drone-battery facility. Article
• Negative Sentiment: Enovix remains loss-making, and its Q4 revenue forecast of $9 million–$10 million is below Q3’s reported revenue, raising near-term execution concerns. Article
• Negative Sentiment: Two law firms announced investigations into whether Enovix misled investors about the readiness of its AI-1 silicon-anode cells for phone qualification. These are investigations, not findings of wrongdoing, but the allegations may add uncertainty about a key growth opportunity. Article

Enovix Company Profile

Enovix Corporation develops lithium-ion batteries using a silicon-based anode and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while addressing safety and performance requirements in compact devices. The company’s batteries are designed for applications including smartphones, wearable devices, laptops, augmented- and virtual-reality products, and other portable electronics. Enovix also targets markets such as defense and industrial technology.