Enovix Corporation (NASDAQ:ENVX) Stock Has Consensus Target Price of $11.77

by · The Cerbat Gem

Enovix Corporation (NASDAQ:ENVX – Get Free Report) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $10.77.

A number of brokerages have issued reports on ENVX. Canaccord Genuity Group reduced their price objective on shares of Enovix from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. William Blair lowered shares of Enovix from an “outperform” rating to a “market perform” rating in a report on Monday, August 17th. Bank of America reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Enovix in a research report on Monday, August 17th. Craig Hallum set a $7.00 price target on shares of Enovix in a research note on Thursday, August 13th. Finally, TD Cowen upgraded Enovix to a “hold” rating in a research note on Monday, October 5th.

Check Out Our Latest Stock Report on Enovix

Institutional Investors Weigh In On Enovix

Several hedge funds have recently added to or reduced their stakes in ENVX. Sax Wealth Advisors LLC bought a new stake in shares of Enovix in the 3rd quarter worth $29,000. Refined Wealth Management raised its position in Enovix by 0.7% in the third quarter. Refined Wealth Management now owns 850,768 shares of the company’s stock worth $2,467,000 after acquiring an additional 5,918 shares during the period. Apella Capital LLC lifted its position in Enovix by 120.8% during the third quarter. Apella Capital LLC now owns 60,540 shares of the company’s stock valued at $176,000 after purchasing an additional 33,120 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Enovix during the 2nd quarter valued at about $61,000. Finally, Engineers Gate Manager LP boosted its position in shares of 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 period. 50.92% of the stock is owned by institutional investors.

Enovix Trading Down 5.6%

Enovix stock opened at $2.35 on Tuesday. The stock has a market cap of $515.71 million, a P/E ratio of -2.90 and a beta of 2.49. Enovix has a fifty-two week low of $2.33 and a fifty-two week high of $12.69. The firm’s fifty day moving average price is $3.13 and its 200-day moving average price is $4.99. The company has a debt-to-equity ratio of 2.46, a quick ratio of 9.37 and a current ratio of 9.71.

Enovix (NASDAQ:ENVX – Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $9.02 million for the quarter, compared to analysts’ expectations of $8.43 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The firm’s revenue was up 20.8% on a year-over-year basis. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Equities research analysts forecast that Enovix will post -0.79 earnings per share for the current fiscal year.

Enovix Company Profile

(Get Free Report)

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.

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