Enovix (NASDAQ:ENVX) Hits New 1-Year Low After Analyst Downgrade

Enovix Corporation (NASDAQ:ENVX) shares hit a new 52-week low during mid-day trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $21.00 to $15.00. Canaccord Genuity Group currently has a buy rating on the stock. Enovix traded as low as $5.25 and last traded at $5.2940, with a volume of 6870811 shares trading hands. The stock had previously closed at $5.95.

Other analysts also recently issued research reports about the stock. Northland Securities set a $16.00 price target on shares of Enovix in a research note on Monday, November 17th. Oppenheimer restated an “outperform” rating on shares of Enovix in a research note on Thursday. Craig Hallum dropped their target price on shares of Enovix from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enovix in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and an average target price of $15.65.

Key Enovix News

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: Q4 results beat revenue and EPS expectations and showed improving gross profit and revenue growth, demonstrating operational progress versus a year ago. Read More.
• Positive Sentiment: Management highlighted accelerating revenue growth, gross-profit improvement and strategic market expansion in the earnings call and slide deck — positives for long‑term demand and technology adoption. Read More.
• Neutral Sentiment: Unusual options activity — a large block of call options was bought (about 31,896 calls), which could reflect speculative positioning or hedging rather than a clear directional signal for the stock.
• Neutral Sentiment: Canaccord lowered its price target (from $21 to $15) but kept a “Buy” rating, a mixed signal that reduces upside expectations while still expressing confidence in the longer-term thesis. Read More.
• Negative Sentiment: Q1 guidance came in below consensus: Enovix guided revenue well under Street estimates for the quarter, which pressures near-term valuation and drove part of today’s sell‑off. Read More.
• Negative Sentiment: Multiple analysts trimmed targets — Craig Hallum cut its target to $10 (from $16) and TD Cowen cut to $7.50 (from $15) — reducing consensus upside and increasing short‑term selling pressure. Read More.
• Negative Sentiment: New risk disclosure: Enovix flagged rising geopolitical and U.S.–China trade risks that could disrupt supply chains and margins — a fresh regulatory/capital-markets risk that investors tend to penalize. Read More.
• Negative Sentiment: Balance-sheet and insider signals raised concerns: reported cash fell materially year‑over‑year, total liabilities rose substantially, and recent insider selling was noted — factors that increase financing and short‑term liquidity risk. Read More.

Hedge Funds Weigh In On Enovix

Several hedge funds and other institutional investors have recently bought and sold shares of ENVX. Caitlin John LLC acquired a new stake in Enovix during the 3rd quarter worth about $27,000. Parallel Advisors LLC grew its position in Enovix by 51.9% during the third quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock valued at $39,000 after buying an additional 1,342 shares during the period. CWM LLC raised its position in shares of Enovix by 95.4% in the fourth quarter. CWM LLC now owns 6,081 shares of the company’s stock worth $44,000 after acquiring an additional 2,969 shares during the period. Stone House Investment Management LLC boosted its stake in shares of Enovix by 56.4% during the 3rd 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. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Enovix in the 3rd quarter valued at about $80,000. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Down 11.0%

The company has a current ratio of 9.72, a quick ratio of 9.47 and a debt-to-equity ratio of 1.74. The business has a fifty day moving average of $7.15 and a two-hundred day moving average of $8.93. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -6.88 and a beta of 2.13.

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.