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

Enovix (NASDAQ:ENVX) had its price target cut by stock analysts at TD Cowen from $7.00 to $5.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 39.24% from the stock’s current price.

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

Enovix Trading Down 9.0%

Enovix stock opened at $3.95 on Friday. Enovix has a 52 week low of $3.90 and a 52 week high of $15.40. The company has a debt-to-equity ratio of 2.14, a quick ratio of 10.65 and a current ratio of 10.97. The stock has a market capitalization of $861.69 million, a P/E ratio of -4.76 and a beta of 2.26. The stock has a 50-day simple moving average of $6.21 and a 200 day simple moving average of $6.25.

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

Hedge Funds Weigh In On Enovix

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Enovix by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company’s stock worth $129,831,000 after purchasing an additional 1,747,145 shares during the period. Electron Capital Partners LLC boosted its stake in Enovix by 13.8% in the 3rd 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 boosted its stake in Enovix by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 4,413,492 shares of the company’s stock valued at $32,268,000 after purchasing an additional 253,906 shares during the period. State Street Corp grew its holdings in Enovix by 2.0% in the 4th 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 in the last quarter. Finally, Royal Bank of Canada grew its holdings in Enovix by 18.0% in the 4th quarter. Royal Bank of Canada now owns 2,525,268 shares of the company’s stock valued at $18,461,000 after buying an additional 385,983 shares in the last quarter. 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.