Brokerages Set Enovix Corporation (NASDAQ:ENVX) Target Price at $12.64

Enovix Corporation (NASDAQ:ENVX) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $12.6364.

A number of brokerages have recently issued reports on ENVX. Wells Fargo & Company set a $6.00 price objective on Enovix in a report on Thursday, March 12th. Bank of America assumed coverage on Enovix in a research note on Thursday, March 12th. They set a “neutral” rating and a $6.00 target price on the stock. Craig Hallum dropped their price target on Enovix from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Benchmark reduced their price target on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Wall Street Zen raised Enovix from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th.

Institutional Investors Weigh In On Enovix

A number of hedge funds and other institutional investors have recently made changes to their positions in ENVX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Enovix by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock worth $722,000 after buying an additional 4,780 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Enovix by 10.4% in the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock valued at $193,000 after acquiring an additional 2,481 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Enovix by 65.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock valued at $8,351,000 after acquiring an additional 449,934 shares during the period. Caxton Associates LLP bought a new stake in shares of Enovix during the 1st quarter valued at $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Enovix by 18.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock worth $2,628,000 after purchasing an additional 55,676 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Enovix Price Performance

NASDAQ:ENVX opened at $4.99 on Friday. The company has a market cap of $1.09 billion, a P/E ratio of -6.01 and a beta of 2.26. The firm’s fifty day moving average price is $6.69 and its two-hundred day moving average price is $6.52. Enovix has a one year low of $4.61 and a one year high of $16.49. The company has a debt-to-equity ratio of 2.14, a current ratio of 10.97 and a quick ratio of 10.65.

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

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.