Analysts Set Enovix Corporation (NASDAQ:ENVX) PT at $18.90

Enovix Corporation (NASDAQ:ENVX) has received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $18.90.

A number of analysts have recently issued reports on ENVX shares. Cowen reissued a “hold” rating on shares of Enovix in a report on Tuesday, July 8th. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 target price (up from $12.00) on shares of Enovix in a research note on Tuesday, July 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $12.00 price target (up previously from $9.00) on shares of Enovix in a research note on Thursday, July 24th. Benchmark increased their price target on shares of Enovix from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, TD Cowen upgraded shares of Enovix to a “hold” rating and raised their price objective for the company from $7.00 to $15.00 in a research report on Monday, July 7th.

Enovix Trading Up 0.9%

Enovix stock opened at $10.09 on Thursday. The stock has a market cap of $1.98 billion, a P/E ratio of -12.01 and a beta of 2.11. Enovix has a fifty-two week low of $5.27 and a fifty-two week high of $16.49. The firm’s fifty day moving average price is $11.65 and its 200-day moving average price is $9.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.37.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Thursday, July 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. The company had revenue of $7.50 million during the quarter, compared to analyst estimates of $5.48 million. Enovix had a negative return on equity of 73.88% and a negative net margin of 481.35%.The firm’s quarterly revenue was up 98.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180–0.140 EPS. Equities research analysts forecast that Enovix will post -1.01 earnings per share for the current fiscal year.

Enovix declared that its Board of Directors has initiated a stock repurchase program on Wednesday, July 2nd that authorizes the company to repurchase $60.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Electron Capital Partners LLC grew its position in Enovix by 5.3% in the second quarter. Electron Capital Partners LLC now owns 7,066,293 shares of the company’s stock worth $73,065,000 after acquiring an additional 353,530 shares in the last quarter. Geode Capital Management LLC lifted its position in Enovix by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,976,433 shares of the company’s stock worth $41,122,000 after buying an additional 55,506 shares during the last quarter. Driehaus Capital Management LLC lifted its position in Enovix by 1.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,323,612 shares of the company’s stock worth $17,055,000 after buying an additional 41,559 shares during the last quarter. Fred Alger Management LLC lifted its position in Enovix by 21.5% in the 1st quarter. Fred Alger Management LLC now owns 2,233,446 shares of the company’s stock worth $16,393,000 after buying an additional 394,532 shares during the last quarter. Finally, Royal Bank of Canada lifted 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 worth $21,012,000 after buying an additional 28,591 shares during the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.