Enovix (NASDAQ:ENVX) Shares Gap Down – Time to Sell?

Enovix Corporation (NASDAQ:ENVX) gapped down prior to trading on Tuesday . The stock had previously closed at $8.24, but opened at $7.70. Enovix shares last traded at $7.4970, with a volume of 1,823,573 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Northland Securities set a $16.00 price objective on shares of Enovix in a research note on Monday, November 17th. Cantor Fitzgerald decreased their target price on Enovix from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. dropped their price target on Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Canaccord Genuity Group reduced their price objective on Enovix from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Oppenheimer set a $24.00 price objective on Enovix in a research note on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Enovix currently has an average rating of “Hold” and a consensus price target of $17.50.

Enovix Stock Up 2.3%

The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.47 and a current ratio of 9.72. The firm has a 50 day simple moving average of $7.96 and a two-hundred day simple moving average of $10.19. The stock has a market cap of $1.66 billion, a P/E ratio of -9.51 and a beta of 2.13.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $7.99 million for the quarter, compared to analyst estimates of $7.94 million. Enovix had a negative return on equity of 61.78% and a negative net margin of 525.93%.The company’s quarterly revenue was up 86.0% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. Enovix has set its Q4 2025 guidance at -0.200–0.160 EPS. Equities research analysts predict that Enovix Corporation will post -1.01 earnings per share for the current year.

Hedge Funds Weigh In On Enovix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitlin John LLC bought a new stake in shares of Enovix in the 3rd quarter worth $27,000. Parallel Advisors LLC grew its holdings in Enovix by 51.9% during the third quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock worth $39,000 after acquiring an additional 1,342 shares during the period. Stone House Investment Management LLC raised its position in Enovix by 56.4% in the third quarter. Stone House Investment Management LLC now owns 7,922 shares of the company’s stock worth $79,000 after acquiring an additional 2,857 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Enovix in the 3rd quarter valued at about $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Enovix by 86.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 12,187 shares of the company’s stock valued at $89,000 after purchasing an additional 5,643 shares in the last quarter. 50.92% of the stock is owned by institutional investors.

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.