Enovix (NASDAQ:ENVX) Upgraded at TD Cowen

Key Points

• TD Cowen upgraded Enovix to a “hold” rating, while analyst sentiment remains mixed; the stock carries a consensus “Moderate Buy” rating and an average price target of $11.77.
• Enovix shares fell 4.6% to open at $2.67, near their 12-month low of $2.48, with the stock well below its 50-day and 200-day moving averages.
• The company exceeded quarterly expectations with revenue of $9.02 million and an adjusted loss of $0.13 per share, while institutional ownership stands at 50.92% after several funds—including BlackRock—built positions.

Enovix (NASDAQ:ENVX - Get Free Report) was upgraded by investment analysts at TD Cowen to a "hold" rating in a research note issued on Monday, Zacks reports.

ENVX has been the topic of several other reports. B. Riley Financial dropped their target price on shares of Enovix from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. Loop Capital upgraded shares of Enovix to a "strong-buy" rating in a report on Monday, August 17th. Wall Street Zen cut shares of Enovix from a "sell" rating to a "strong sell" rating in a research report on Saturday. Cantor Fitzgerald reiterated an "overweight" rating and set a $25.00 price objective on shares of Enovix in a research note on Thursday, August 13th. Finally, Bank of America reissued a "neutral" rating and set a $5.00 price objective on shares of Enovix in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.77.

Enovix Trading Down 4.6%

Shares of NASDAQ ENVX opened at $2.67 on Monday. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. The business has a fifty day simple moving average of $3.47 and a two-hundred day simple moving average of $5.17. The firm has a market cap of $585.93 million, a PE ratio of -3.30 and a beta of 2.49. Enovix has a twelve month low of $2.48 and a twelve month high of $14.21.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ENVX. BlackRock Inc. purchased a new stake in Enovix during the second quarter valued at approximately $100,054,000. Granahan Investment Management LLC grew its holdings in Enovix by 12.3% in the fourth 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. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Enovix during the second quarter worth $8,689,000. Bank of America Corp DE acquired a new position in shares of Enovix during the second quarter worth $8,356,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Enovix during the 2nd quarter valued at $3,551,000. Hedge funds and other institutional investors own 50.92% of the company's stock.

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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