Enovix (NASDAQ:ENVX) Cut to Neutral at B. Riley Financial

Key Points

• B. Riley Financial downgraded Enovix from Buy to Neutral and set a $2.00 price target, implying 11.1% upside from the stock’s then-current price.
• Analyst opinions overall average to Hold, with a consensus price target of $7.80; ratings range from Strong Buy to Sell.
• Enovix shares were down 28.9% and opened at $1.80. In its latest reported quarter, the company lost $0.15 per share—better than the $0.20 loss analysts expected—and recorded $11.04 million in revenue.

Enovix (NASDAQ:ENVX - Get Free Report) was downgraded by stock analysts at B. Riley Financial from a "buy" rating to a "neutral" rating in a report issued on Friday, Briefing.com reports. They currently have a $2.00 price objective on the stock. B. Riley Financial's price target indicates a potential upside of 11.11% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen upgraded shares of Enovix to a "hold" rating in a report on Monday, October 5th. Wall Street Zen lowered shares of Enovix from a "sell" rating to a "strong sell" rating in a research report on Saturday, October 31st. William Blair downgraded shares of Enovix from an "outperform" rating to a "market perform" rating in a research note on Monday, August 17th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Enovix in a report on Friday, October 2nd. Finally, Craig Hallum lowered shares of Enovix from a "buy" rating to a "hold" rating and set a $2.00 price target on the stock. in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.80.

Enovix Stock Down 28.9%

Shares of NASDAQ:ENVX opened at $1.80 on Friday. The company has a current ratio of 9.71, a quick ratio of 9.37 and a debt-to-equity ratio of 2.46. The firm has a market cap of $395.01 million, a price-to-earnings ratio of -2.22 and a beta of 2.34. The stock's 50-day moving average price is $2.82 and its two-hundred day moving average price is $4.93. Enovix has a 12-month low of $1.78 and a 12-month high of $9.19.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings data on Friday, November 13th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.05. The company had revenue of $11.04 million during the quarter. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. On average, research analysts forecast that Enovix will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Enovix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Enovix in the 2nd quarter valued at about $100,054,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Enovix during the 2nd quarter worth approximately $8,689,000. Bank of America Corp DE acquired a new stake in Enovix during the 2nd quarter worth approximately $8,356,000. Bank of New York Mellon Corp purchased a new position in Enovix in the second quarter valued at approximately $3,551,000. Finally, Deutsche Bank AG purchased a new position in Enovix in the second quarter valued at approximately $3,343,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.

Latest Enovix News

Here's some of the latest news about ENVX:

• Positive Sentiment: Q3 2026 revenue rose 38% year over year to about $11 million, with drone and defense customers driving growth. Enovix forecast 2027 revenue of $65 million–$85 million, supported by a reported $37 million backlog, and plans to double capacity at its South Korean drone-battery facility. Article
• Neutral Sentiment: Call-option trading was unusually active, with 17,357 calls traded—24% above the average daily volume. This indicates elevated trading interest but does not establish a directional outlook.
• Negative Sentiment: Enovix remains loss-making, and its Q4 revenue forecast of $9 million–$10 million is below Q3’s reported revenue, raising near-term execution concerns. Article

Enovix Company Profile

Enovix Corporation develops lithium-ion batteries using a silicon-based anode and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while addressing safety and performance requirements in compact devices. The company's batteries are designed for applications including smartphones, wearable devices, laptops, augmented- and virtual-reality products, and other portable electronics. Enovix also targets markets such as defense and industrial technology.

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