Enovix (NASDAQ:ENVX) Releases Earnings Results, Beats Expectations By $0.03 EPS

Enovix (NASDAQ:ENVX) announced its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03, FiscalAI reports. Enovix had a negative net margin of 525.93% and a negative return on equity of 61.78%. Enovix updated its Q1 2026 guidance to -0.180–0.140 EPS.

Enovix Price Performance

Shares of NASDAQ:ENVX traded up $0.04 during mid-day trading on Wednesday, reaching $6.15. The stock had a trading volume of 7,907,555 shares, compared to its average volume of 6,375,479. The business’s 50 day moving average price is $7.21 and its 200 day moving average price is $8.98. Enovix has a 1 year low of $5.27 and a 1 year high of $16.49. The company has a market cap of $1.33 billion, a P/E ratio of -7.59 and a beta of 2.13. The company has a current ratio of 9.72, a quick ratio of 9.47 and a debt-to-equity ratio of 1.74.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ENVX. Millennium Management LLC grew its stake in shares of Enovix by 1,038.9% in the 3rd quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock worth $14,724,000 after buying an additional 1,347,200 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Enovix by 9,197.1% in the 3rd quarter. Two Sigma Investments LP now owns 1,200,997 shares of the company’s stock valued at $11,974,000 after purchasing an additional 1,188,079 shares during the last quarter. Barclays PLC increased its position in shares of Enovix by 263.1% during the 4th quarter. Barclays PLC now owns 1,551,941 shares of the company’s stock valued at $11,345,000 after purchasing an additional 1,124,480 shares during the last quarter. Electron Capital Partners LLC raised its holdings in Enovix by 13.8% during the 3rd quarter. Electron Capital Partners LLC now owns 8,038,396 shares of the company’s stock valued at $80,143,000 after buying an additional 972,103 shares during the period. Finally, Fred Alger Management LLC lifted its position in Enovix by 58.9% in the fourth quarter. Fred Alger Management LLC now owns 2,292,315 shares of the company’s stock worth $16,757,000 after buying an additional 849,329 shares during the last quarter. 50.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ENVX. Canaccord Genuity Group dropped their target price on shares of Enovix from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, November 6th. JPMorgan Chase & Co. dropped their price objective on Enovix from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Northland Securities set a $16.00 target price on Enovix in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovix in a report on Monday, December 29th. Finally, Cantor Fitzgerald dropped their price target on Enovix from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.50.

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.