Enovix (NASDAQ:ENVX) Stock Rating Lowered by Wall Street Zen

Enovix (NASDAQ:ENVX) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Loop Capital upgraded Enovix to a “strong-buy” rating in a research note on Monday, August 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Enovix in a research report on Friday, October 2nd. Canaccord Genuity Group dropped their price objective on shares of Enovix from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. TD Cowen raised shares of Enovix to a “hold” rating in a report on Monday, October 5th. Finally, William Blair downgraded shares of Enovix from an “outperform” rating to a “market perform” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.77.

Enovix Price Performance

Shares of NASDAQ ENVX opened at $3.15 on Friday. The stock has a 50-day moving average price of $2.95 and a two-hundred day moving average price of $5.16. Enovix has a 12 month low of $2.20 and a 12 month high of $12.40. The company has a market cap of $691.27 million, a price-to-earnings ratio of -3.89 and a beta of 2.34. 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 shares are scheduled to split before the market opens on Friday, November 13th. The 5-4 split was recently announced. The newly minted shares will be distributed to shareholders after the market closes on Thursday, November 12th.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm 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%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. As a group, analysts forecast that Enovix will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Enovix

Several institutional investors have recently bought and sold shares of ENVX. Oppenheimer & Co. Inc. grew its position in shares of Enovix by 58.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 454,446 shares of the company’s stock valued at $1,318,000 after purchasing an additional 166,892 shares during the period. Sowell Financial Services LLC boosted its position in shares of Enovix by 144.1% during the 3rd quarter. Sowell Financial Services LLC now owns 128,995 shares of the company’s stock valued at $374,000 after purchasing an additional 76,150 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of Enovix by 96.0% in the third quarter. Inspire Investing LLC now owns 219,586 shares of the company’s stock valued at $637,000 after buying an additional 107,563 shares in the last quarter. Parkside Investments LLC boosted its holdings in shares of Enovix by 12.0% in the 3rd quarter. Parkside Investments LLC now owns 308,482 shares of the company’s stock worth $895,000 after buying an additional 32,943 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its position in shares of Enovix by 52.5% during the third quarter. Integrated Advisors Network LLC now owns 64,809 shares of the company’s stock valued at $188,000 after buying an additional 22,318 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

About Enovix

Enovix Corporation is a battery technology company that develops lithium-ion batteries using a silicon-anode architecture. Its approach is designed to increase energy density while maintaining safety and cycle-life characteristics through a three-dimensional cell design and a mechanical constraint system that helps manage silicon expansion during charging.

The company’s products are intended for applications that require compact, high-performance power sources, including consumer electronics, wearable devices, Internet of Things equipment, industrial products, and defense and aerospace systems.