Enovix Corporation (NASDAQ:ENVX) Receives Average Rating of “Moderate Buy” from Brokerages

Enovix Corporation (NASDAQ:ENVX) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $12.6364.

Several research firms have recently issued reports on ENVX. JPMorgan Chase & Co. cut shares of Enovix from a “neutral” rating to an “underweight” rating in a research report on Wednesday, May 6th. TD Cowen restated a “buy” rating on shares of Enovix in a research report on Thursday, May 14th. Benchmark cut their target price on shares of Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Oppenheimer reduced their price target on shares of Enovix from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Enovix from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th.

Enovix Price Performance

Shares of NASDAQ:ENVX traded down $0.20 during trading on Friday, hitting $5.20. 4,425,554 shares of the company’s stock were exchanged, compared to its average volume of 4,969,321. The company has a debt-to-equity ratio of 2.14, a current ratio of 10.97 and a quick ratio of 10.65. Enovix has a 52-week low of $4.61 and a 52-week high of $16.49. The business’s 50-day simple moving average is $6.61 and its 200 day simple moving average is $6.47. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -6.26 and a beta of 2.26.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.14) EPS for the quarter, topping 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 analysts’ expectations of $6.95 million. During the same period in the previous year, the firm earned ($0.15) EPS. The firm’s revenue was up 49.1% compared to the same quarter last year. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. As a group, equities analysts predict that Enovix will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Enovix

A number of hedge funds have recently made changes to their positions in ENVX. Vanguard Group Inc. grew 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 valued at $129,831,000 after buying an additional 1,747,145 shares in the last quarter. Electron Capital Partners LLC boosted its position in shares of Enovix by 13.8% during the 3rd quarter. Electron Capital Partners LLC now owns 8,038,396 shares of the company’s stock valued at $80,143,000 after acquiring an additional 972,103 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Enovix by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 4,413,492 shares of the company’s stock valued at $32,268,000 after acquiring an additional 253,906 shares during the last quarter. State Street Corp grew its holdings in shares of Enovix by 2.0% in the fourth quarter. State Street Corp now owns 3,959,029 shares of the company’s stock valued at $28,941,000 after purchasing an additional 77,079 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Enovix by 18.0% in the fourth quarter. Royal Bank of Canada now owns 2,525,268 shares of the company’s stock valued at $18,461,000 after purchasing an additional 385,983 shares in the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

About Enovix

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.