Enovix (NASDAQ:ENVX) Upgraded at Wall Street Zen

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

ENVX has been the subject of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Enovix in a report on Friday, October 2nd. Canaccord Genuity Group lowered their price target on shares of Enovix from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Bank of America reiterated a “neutral” rating and set a $5.00 price objective on shares of Enovix in a research note on Monday, August 17th. William Blair lowered shares of Enovix from an “outperform” rating to a “market perform” rating in a report on Monday, August 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of Enovix in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.77.

Enovix Stock Performance

Shares of Enovix stock opened at $2.51 on Friday. The firm has a market cap of $550.82 million, a P/E ratio of -3.10 and a beta of 2.49. 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 has a 12 month low of $2.40 and a 12 month high of $14.21. The stock’s fifty day moving average price is $3.29 and its 200-day moving average price is $5.07.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company posted ($0.13) earnings per share. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. On average, equities research analysts expect that Enovix will post -0.80 earnings per share for the current fiscal year.

Institutional Trading of Enovix

Several hedge funds have recently modified their holdings of the company. Sax Wealth Advisors LLC bought a new position in shares of Enovix during the 3rd quarter worth approximately $29,000. Refined Wealth Management lifted its position in Enovix by 0.7% during the third quarter. Refined Wealth Management now owns 850,768 shares of the company’s stock valued at $2,467,000 after acquiring an additional 5,918 shares during the last quarter. Apella Capital LLC boosted its stake in Enovix by 120.8% in the third quarter. Apella Capital LLC now owns 60,540 shares of the company’s stock valued at $176,000 after acquiring an additional 33,120 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Enovix in the second quarter valued at approximately $61,000. Finally, Engineers Gate Manager LP grew its holdings in Enovix by 132.4% in the second quarter. Engineers Gate Manager LP now owns 51,281 shares of the company’s stock worth $311,000 after purchasing an additional 29,214 shares during the last quarter. 50.92% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Enovix

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: New 100,000-battery drone order: Enovix received an initial purchase order from a multinational dual-use drone-system provider. Deliveries are scheduled for the first half of 2027 from its military-qualified, TAA-compliant South Korean facility, with potential follow-on orders later in 2027 and beyond. The order supports Enovix’s defense-market growth but has no disclosed dollar value. Enovix Receives 100,000-Battery Drone Order
• Positive Sentiment: Third-quarter revenue exceeded expectations: Preliminary Q3 2026 revenue was approximately $11 million, up 38% year over year and above the company’s $11 million guidance and roughly $9.5 million analyst consensus. The improvement was attributed partly to growing defense demand. Enovix Q3 Preliminary Revenue Rises 38%
• Positive Sentiment: Improved earnings outlook: Enovix guided to third-quarter EPS of approximately negative $0.14, better than the consensus estimate of negative $0.16. The company also raised confidence in its revenue trajectory. Enovix Q3 Revenue Rises 38% to $11 Million
• Neutral Sentiment: Analyst upside remains substantial: The reported average analyst price target is $11.77, well above recent trading levels. Targets are expectations rather than guarantees and depend on Enovix converting its pipeline into repeatable commercial revenue. Enovix Average Target Price
• Negative Sentiment: Profitability remains a concern: Enovix continues to report losses, and its preliminary guidance still implies negative EPS. The stock also remains highly volatile and below its longer-term moving averages, increasing sensitivity to execution, financing, and commercialization risks.

Enovix Company Profile

Enovix Corporation is a battery technology company developing lithium-ion batteries that use a silicon-based anode and a three-dimensional cell architecture. The company’s design is intended to increase energy density while incorporating structural features designed to improve safety and cycle life compared with conventional lithium-ion batteries.

Enovix is focused initially on batteries for consumer electronics, including smartphones, wearable devices and other mobile products. It has also identified applications in industrial, medical, aerospace, defense and electric vehicle markets.