Enovix (NASDAQ:ENVX) Releases Earnings Results, Beats Estimates By $0.01 EPS

Enovix (NASDAQ:ENVX) issued its quarterly earnings data on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01, Zacks reports. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. Enovix updated its Q1 2025 guidance to -0.210–0.150 EPS.

Enovix Stock Performance

NASDAQ ENVX traded up $0.03 on Wednesday, hitting $11.19. 10,986,991 shares of the company’s stock traded hands, compared to its average volume of 6,868,415. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $10.29. Enovix has a 1-year low of $5.70 and a 1-year high of $18.68. The firm has a market capitalization of $1.99 billion, a PE ratio of -6.95 and a beta of 1.87.

Insider Activity at Enovix

In related news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the transaction, the director now directly owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 15.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ENVX has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their target price on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Finally, Janney Montgomery Scott cut shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Enovix currently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Enovix Company Profile

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.