TD Cowen Lowers Enovix (NASDAQ:ENVX) Price Target to $5.50

Enovix (NASDAQ:ENVX) had its price target cut by equities research analysts at TD Cowen from $7.00 to $5.50 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target points to a potential upside of 37.67% from the company’s previous close.

Several other brokerages have also weighed in on ENVX. Weiss Ratings reissued a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. Wall Street Zen raised shares of Enovix from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Craig Hallum decreased their price target on Enovix from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. JPMorgan Chase & Co. lowered Enovix from a “neutral” rating to an “underweight” rating in a report on Wednesday, May 6th. Finally, Benchmark cut their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enovix presently has a consensus rating of “Hold” and a consensus target price of $12.50.

Enovix Stock Down 7.9%

Shares of Enovix stock traded down $0.34 on Friday, hitting $4.00. 4,540,706 shares of the company’s stock traded hands, compared to its average volume of 6,382,549. Enovix has a 52-week low of $3.97 and a 52-week high of $15.40. The company has a quick ratio of 10.65, a current ratio of 10.97 and a debt-to-equity ratio of 2.14. The stock has a market cap of $871.51 million, a P/E ratio of -4.84 and a beta of 2.26. The firm’s 50-day moving average is $6.25 and its 200 day moving average is $6.27.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $7.60 million during the quarter, compared to analyst estimates of $6.95 million. Enovix had a negative net margin of 499.64% and a negative return on equity of 64.28%. The business’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. Equities analysts anticipate that Enovix will post -0.79 earnings per share for the current year.

Hedge Funds Weigh In On Enovix

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake 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 purchasing an additional 1,747,145 shares during the period. Electron Capital Partners LLC increased its stake in shares of Enovix by 13.8% in the third quarter. Electron Capital Partners LLC now owns 8,038,396 shares of the company’s stock valued at $80,143,000 after purchasing an additional 972,103 shares during the period. Geode Capital Management LLC raised its holdings in shares of Enovix by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 4,413,492 shares of the company’s stock valued at $32,268,000 after buying an additional 253,906 shares during the last quarter. State Street Corp raised its holdings in shares of Enovix by 2.0% during the fourth quarter. State Street Corp now owns 3,959,029 shares of the company’s stock valued at $28,941,000 after buying an additional 77,079 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Enovix by 18.0% during the fourth quarter. Royal Bank of Canada now owns 2,525,268 shares of the company’s stock worth $18,461,000 after buying an additional 385,983 shares during the period. Institutional investors and hedge funds 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.