Enovix Corporation (NASDAQ:ENVX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Enovix Corporation (NASDAQ:ENVX) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $12.6364.

A number of research firms have recently weighed in on ENVX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a report on Friday, April 10th. Wells Fargo & Company set a $6.00 price target on Enovix in a research report on Thursday, March 12th. Benchmark cut their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Bank of America initiated coverage on Enovix in a research note on Thursday, March 12th. They set a “neutral” rating and a $6.00 target price on the stock. Finally, Craig Hallum decreased their target price on Enovix from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, May 14th.

Enovix Stock Performance

NASDAQ:ENVX opened at $5.36 on Friday. The firm has a market capitalization of $1.17 billion, a P/E ratio of -6.46 and a beta of 2.26. 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 company has a fifty day moving average of $6.74 and a 200 day moving average of $6.56. Enovix has a 52 week low of $4.61 and a 52 week high of $16.49.

Enovix (NASDAQ:ENVX) last announced 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. Enovix had a negative net margin of 499.64% and a negative return on equity of 64.28%. The business had revenue of $7.60 million for the quarter, compared to analyst estimates of $6.95 million. During the same quarter last year, the firm earned ($0.15) EPS. The company’s revenue was up 49.1% on a year-over-year basis. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. On average, research analysts predict that Enovix will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Enovix by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock valued at $722,000 after purchasing an additional 4,780 shares in the last quarter. NewEdge Advisors LLC raised its stake in Enovix by 10.4% in the first quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock worth $193,000 after buying an additional 2,481 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Enovix by 65.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock worth $8,351,000 after buying an additional 449,934 shares in the last quarter. Caxton Associates LLP purchased a new stake in Enovix in the first quarter worth about $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Enovix by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock worth $2,628,000 after buying an additional 55,676 shares during the period. 50.92% of the stock is owned by hedge funds and other institutional investors.

About Enovix

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.