Enovix (NASDAQ:ENVX) Stock Set to Split on Friday, November 13th

Enovix Corporation (NASDAQ:ENVX) shares are set to split before the market opens on Friday, November 13th. The 5-4 split was recently announced. The newly issued shares will be issued to shareholders after the market closes on Thursday, November 12th.

Enovix Trading Down 9.7%

Shares of ENVX stock traded down $0.34 during trading on Friday, hitting $3.17. 3,402,129 shares of the stock traded hands, compared to its average volume of 7,094,264. The firm’s fifty day moving average price is $2.96 and its 200-day moving average price is $5.19. Enovix has a 52-week low of $2.20 and a 52-week high of $12.40. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37. The firm has a market capitalization of $695.66 million, a P/E ratio of -3.91 and a beta of 2.49.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. The business had revenue of $9.02 million during the quarter, compared to analyst estimates of $8.43 million. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the business posted ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. As a group, research analysts forecast that Enovix will post -0.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ENVX has been the topic of several research analyst reports. TD Cowen raised Enovix to a “hold” rating in a research report on Monday, October 5th. Craig Hallum set a $7.00 price target on Enovix in a research note on Thursday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Enovix in a report on Thursday, August 13th. Loop Capital upgraded Enovix to a “strong-buy” rating in a research note on Monday, August 17th. Finally, Wall Street Zen raised shares of Enovix from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Enovix has a consensus rating of “Moderate Buy” and a consensus target price of $10.77.

Institutional Investors Weigh In On Enovix

A number of institutional investors have recently bought and sold shares of ENVX. Sax Wealth Advisors LLC purchased a new stake in shares of Enovix during the 3rd quarter worth about $29,000. Calamos Advisors LLC acquired a new position in shares of Enovix during the 1st quarter valued at $60,000. Sequoia Financial Advisors LLC acquired a new position in shares of Enovix during the 2nd quarter valued at $61,000. Gateway Wealth Partners LLC purchased a new stake in Enovix during the 1st quarter worth $68,000. Finally, Wealthfront Advisers LLC boosted its position in Enovix by 27.8% during the 1st quarter. Wealthfront Advisers LLC now owns 13,800 shares of the company’s stock worth $71,000 after purchasing an additional 3,001 shares during the period. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Company Profile

Enovix Corporation is a battery technology company that develops lithium-ion batteries using a silicon-anode architecture. Its approach is designed to increase energy density while maintaining safety and cycle-life characteristics through a three-dimensional cell design and a mechanical constraint system that helps manage silicon expansion during charging.

The company’s products are intended for applications that require compact, high-performance power sources, including consumer electronics, wearable devices, Internet of Things equipment, industrial products, and defense and aerospace systems.