Enovix (NASDAQ:ENVX) Stock Rating Cut to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Enovix from “sell” to “strong sell,” adding to mixed analyst sentiment. MarketBeat reports an overall “Moderate Buy” consensus and an average price target of $11.77.
• Enovix shares opened at $2.80, near their 52-week low of $2.48, with a market capitalization of approximately $614 million. The company remains unprofitable, posting a negative net margin of 473.89%.
• Despite ongoing losses, Enovix beat quarterly expectations with an adjusted loss of $0.13 per share versus the projected $0.15 loss, while revenue rose 20.8% year over year to $9.02 million. Institutional investors own about 50.92% of the stock.

Enovix (NASDAQ:ENVX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms also recently weighed in on ENVX. Weiss Ratings restated a "sell (e+)" rating on shares of Enovix in a research note on Wednesday, July 8th. William Blair lowered shares of Enovix from an "outperform" rating to a "market perform" rating in a research report on Monday, August 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $25.00 target price on shares of Enovix in a research note on Thursday, August 13th. Bank of America reaffirmed a "neutral" rating and set a $5.00 target price on shares of Enovix in a research note on Monday, August 17th. Finally, B. Riley Financial lowered their price target on shares of Enovix from $10.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $11.77.

Enovix Stock Up 0.7%

NASDAQ ENVX opened at $2.80 on Friday. The business has a fifty day moving average price of $3.50 and a two-hundred day moving average price of $5.19. The stock has a market capitalization of $614.46 million, a PE ratio of -3.46 and a beta of 2.49. Enovix has a fifty-two week low of $2.48 and a fifty-two week high of $14.21. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. The company had revenue of $9.02 million for 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 revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.13) EPS. Enovix has set its Q3 2026 guidance at -0.170--0.130 EPS. Equities analysts expect that Enovix will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enovix

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Enovix during the second quarter valued at $100,054,000. Granahan Investment Management LLC raised its position in Enovix by 12.3% during the 4th quarter. Granahan Investment Management LLC now owns 1,964,565 shares of the company's stock worth $14,361,000 after purchasing an additional 214,916 shares during the last quarter. CenterBook Partners LP raised its position in Enovix by 66.1% during the 4th quarter. CenterBook Partners LP now owns 1,757,382 shares of the company's stock worth $12,846,000 after purchasing an additional 699,519 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enovix during the 2nd quarter worth about $8,689,000. Finally, Bank of America Corp DE bought a new stake in shares of Enovix in the 2nd quarter valued at about $8,356,000. 50.92% of the stock is owned by institutional investors.

Enovix Company Profile

Enovix Corporation is a battery technology company developing lithium-ion batteries that use a silicon-based anode and a three-dimensional cell architecture. The company's design is intended to increase energy density while incorporating structural features designed to improve safety and cycle life compared with conventional lithium-ion batteries.

Enovix is focused initially on batteries for consumer electronics, including smartphones, wearable devices and other mobile products. It has also identified applications in industrial, medical, aerospace, defense and electric vehicle markets.

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