Enovix (NASDAQ:ENVX) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Enovix from “strong sell” to “sell,” while analyst opinions remain mixed. MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $11.77.
• Enovix shares opened at $2.46, near their 12-month low of $2.40 and well below the 12-month high of $14.21. The company has a market capitalization of approximately $540 million.
• Recent quarterly results modestly beat expectations, with an adjusted loss of $0.13 per share and revenue of $9.02 million, up 20.8% year over year. However, Enovix continues to report substantial losses, including a negative net margin of 473.89%.

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

Other equities analysts have also issued reports about the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $25.00 price objective on shares of Enovix in a research note on Thursday, August 13th. Weiss Ratings reissued a "sell (e+)" rating on shares of Enovix in a research report on Friday, October 2nd. Craig Hallum set a $7.00 price target on shares of Enovix in a report on Thursday, August 13th. William Blair lowered shares of Enovix from an "outperform" rating to a "market perform" rating in a report on Monday, August 17th. Finally, Canaccord Genuity Group dropped their price target on shares of Enovix from $15.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.77.

Enovix Stock Performance

NASDAQ ENVX opened at $2.46 on Friday. The company has a market capitalization of $539.85 million, a price-to-earnings ratio of -3.04 and a beta of 2.49. Enovix has a twelve month low of $2.40 and a twelve month high of $14.21. The stock has a fifty day simple moving average of $3.36 and a 200 day simple moving average of $5.11. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46.

Enovix (NASDAQ:ENVX - Get Free Report) last announced its 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. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%. The firm had revenue of $9.02 million for the quarter, compared to the consensus estimate of $8.43 million. During the same period in the previous year, the business earned ($0.13) EPS. The business's quarterly revenue was up 20.8% compared to the same quarter last year. Enovix has set its Q3 2026 guidance at -0.170--0.130 EPS. Sell-side analysts expect that Enovix will post -0.80 EPS for the current year.

Institutional Investors Weigh In On Enovix

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in Enovix in the fourth quarter valued at approximately $30,000. Calamos Advisors LLC acquired a new stake in shares of Enovix during the 1st quarter worth approximately $60,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Enovix during the 2nd quarter worth approximately $61,000. Gateway Wealth Partners LLC bought a new stake in shares of Enovix in the 1st quarter valued at $68,000. Finally, Wealthfront Advisers LLC increased its stake in shares of Enovix by 27.8% in the 1st quarter. Wealthfront Advisers LLC now owns 13,800 shares of the company's stock valued at $71,000 after acquiring an additional 3,001 shares in the last quarter. Institutional investors and hedge funds 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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