Enovix Corporation (NASDAQ:ENVX) Receives $11.77 Consensus Target Price from Brokerages

Shares of Enovix Corporation (NASDAQ:ENVX) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.7727.

Several equities analysts recently weighed in on ENVX shares. Wall Street Zen lowered shares of Enovix from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. JPMorgan Chase & Co. downgraded shares of Enovix from a “neutral” rating to an “underweight” rating in a research note on Wednesday, May 6th. Bank of America reissued a “neutral” rating and issued a $5.00 price objective on shares of Enovix in a research report on Monday, August 17th. Canaccord Genuity Group reduced their price target on Enovix from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovix in a research report on Wednesday, July 8th.

Enovix Trading Down 6.4%

ENVX stock opened at $3.36 on Monday. The company has a market cap of $737.35 million, a price-to-earnings ratio of -4.15 and a beta of 2.32. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. The business has a fifty day simple moving average of $4.64 and a 200-day simple moving average of $5.64. Enovix has a 52 week low of $3.06 and a 52 week high of $14.21.

Enovix (NASDAQ:ENVX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping 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 company had revenue of $9.02 million for the quarter, compared to the consensus estimate of $8.43 million. During the same period last year, the business posted ($0.13) EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. On average, equities research analysts expect that Enovix will post -0.8 EPS for the current year.

Hedge Funds Weigh In On Enovix

A number of hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in Enovix during the 4th quarter worth approximately $30,000. Parallel Advisors LLC lifted its position in shares of Enovix by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock worth $39,000 after buying an additional 1,342 shares during the last quarter. CWM LLC boosted its holdings in shares of Enovix by 95.4% in the 4th quarter. CWM LLC now owns 6,081 shares of the company’s stock valued at $44,000 after buying an additional 2,969 shares during the period. Calamos Advisors LLC bought a new position in Enovix in the first quarter worth about $60,000. Finally, Gateway Wealth Partners LLC acquired a new position in Enovix in the first quarter valued at approximately $68,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.

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.