FY2025 EPS Estimates for Enovix Raised by Cantor Fitzgerald

Enovix Co. (NASDAQ:ENVX) – Equities research analysts at Cantor Fitzgerald increased their FY2025 EPS estimates for shares of Enovix in a report issued on Thursday, February 20th. Cantor Fitzgerald analyst D. Soderberg now forecasts that the company will post earnings of ($0.82) per share for the year, up from their prior forecast of ($1.18). Cantor Fitzgerald has a “Overweight” rating and a $30.00 price objective on the stock. The consensus estimate for Enovix’s current full-year earnings is ($1.01) per share.

Several other research analysts also recently weighed in on the stock. Craig Hallum decreased their price target on shares of Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Thursday, October 31st. Finally, Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Enovix in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Enovix has a consensus rating of “Moderate Buy” and an average target price of $20.30.

Enovix Stock Performance

Shares of NASDAQ ENVX opened at $9.44 on Monday. The company has a market cap of $1.68 billion, a PE ratio of -6.51 and a beta of 1.87. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $11.19 and its 200-day moving average price is $10.27. Enovix has a 52-week low of $5.70 and a 52-week high of $18.68.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%.

Insiders Place Their Bets

In related news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the completion of the sale, the director now directly owns 99,497 shares in the company, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Enovix by 15.1% during the 4th quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company’s stock worth $171,458,000 after purchasing an additional 2,063,631 shares during the last quarter. Electron Capital Partners LLC increased its stake in Enovix by 0.5% during the 4th quarter. Electron Capital Partners LLC now owns 5,658,734 shares of the company’s stock worth $61,510,000 after buying an additional 29,109 shares during the period. Geode Capital Management LLC raised its stake in shares of Enovix by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company’s stock valued at $41,520,000 after acquiring an additional 235,142 shares in the last quarter. Royal Bank of Canada raised its position in Enovix by 1.5% in the 4th quarter. Royal Bank of Canada now owns 1,933,073 shares of the company’s stock valued at $21,012,000 after purchasing an additional 28,591 shares in the last quarter. Finally, Fred Alger Management LLC lifted its stake in Enovix by 212.4% in the fourth quarter. Fred Alger Management LLC now owns 1,838,914 shares of the company’s stock worth $19,989,000 after acquiring an additional 1,250,300 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

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.