Enovix (NASDAQ:ENVX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Enovix from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $11.77.
• Enovix shares opened at $3.10, near their 52-week low of $3.06, and remain well below the 50-day and 200-day moving averages of $4.10 and $5.44, respectively.
• The company beat quarterly earnings expectations, reporting an adjusted loss of $0.13 per share versus the expected $0.15 loss and revenue of $9.02 million, up 20.8% year over year; institutional investors own 50.92% of the stock.

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

Several other equities analysts have also commented on ENVX. William Blair lowered Enovix from an "outperform" rating to a "market perform" rating in a research report on Monday, August 17th. B. Riley Financial cut their target price on Enovix from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. TD Cowen reduced their price target on shares of Enovix from $7.00 to $5.50 and set a "hold" rating on the stock in a research report on Friday, July 24th. Craig Hallum set a $7.00 price target on shares of Enovix in a research report on Thursday, August 13th. Finally, Canaccord Genuity Group decreased their price target on shares of Enovix from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. One investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.77.

Enovix Stock Down 1.3%

Shares of NASDAQ:ENVX opened at $3.10 on Friday. The firm has a market capitalization of $680.29 million, a PE ratio of -3.83 and a beta of 2.31. The company has a debt-to-equity ratio of 2.46, a quick ratio of 9.37 and a current ratio of 9.71. Enovix has a 52-week low of $3.06 and a 52-week high of $14.21. The firm has a fifty day moving average of $4.10 and a 200 day moving average of $5.44.

Enovix (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%.The business had revenue of $9.02 million for the quarter, compared to the consensus estimate of $8.43 million. During the same quarter last year, the business posted ($0.13) earnings per share. The company's revenue for the quarter was up 20.8% on a year-over-year basis. Enovix has set its Q3 2026 guidance at -0.170--0.130 EPS. As a group, research analysts anticipate that Enovix will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Enovix

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new stake in Enovix during the 2nd quarter valued at about $61,000. Engineers Gate Manager LP increased its stake in Enovix by 132.4% in the 2nd quarter. Engineers Gate Manager LP now owns 51,281 shares of the company's stock worth $311,000 after purchasing an additional 29,214 shares during the period. California State Teachers Retirement System lifted its position in Enovix by 429.1% in the second quarter. California State Teachers Retirement System now owns 1,338,878 shares of the company's stock valued at $8,127,000 after purchasing an additional 1,085,839 shares during the last quarter. HB Wealth Management LLC lifted its position in Enovix by 99.5% in the second quarter. HB Wealth Management LLC now owns 30,664 shares of the company's stock valued at $186,000 after purchasing an additional 15,294 shares during the last quarter. Finally, AXQ Capital LP boosted its stake in shares of Enovix by 249.5% during the second quarter. AXQ Capital LP now owns 118,115 shares of the company's stock valued at $717,000 after purchasing an additional 84,322 shares during the period. Institutional investors own 50.92% of the company's stock.

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.

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