Enovix (NASDAQ:ENVX) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Enovix (NASDAQ:ENVX) from a strong sell rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued reports about the stock. William Blair downgraded shares of Enovix from an “outperform” rating to a “market perform” rating in a report on Monday, August 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 target price on shares of Enovix in a report on Thursday, August 13th. Loop Capital upgraded shares of Enovix to a “strong-buy” rating in a research report on Monday, August 17th. B. Riley Financial decreased their target price on shares of Enovix from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Craig Hallum set a $7.00 price target on shares of Enovix in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.77.

Enovix Trading Down 1.3%

Shares of NASDAQ:ENVX opened at $3.10 on Friday. Enovix has a 52-week low of $3.06 and a 52-week high of $14.21. The stock has a market cap of $680.29 million, a price-to-earnings ratio of -3.83 and a beta of 2.31. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. The business has a 50-day moving average price of $4.10 and a 200-day moving average price of $5.44.

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

Institutional Investors Weigh In On Enovix

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Enovix during the second quarter valued at $100,054,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Enovix in the second quarter valued at $8,689,000. Bank of America Corp DE acquired a new position in shares of Enovix in the second quarter worth about $8,356,000. Millennium Management LLC raised its position in shares of Enovix by 1,038.9% in the third quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock worth $14,724,000 after acquiring an additional 1,347,200 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Enovix by 9,197.1% during the 3rd quarter. Two Sigma Investments LP now owns 1,200,997 shares of the company’s stock worth $11,974,000 after acquiring an additional 1,188,079 shares in the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

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.