FY2025 EPS Estimates for Enovix Reduced by Cantor Fitzgerald

Enovix Co. (NASDAQ:ENVX - Free Report) - Stock analysts at Cantor Fitzgerald lowered their FY2025 EPS estimates for shares of Enovix in a report issued on Thursday, March 27th. Cantor Fitzgerald analyst D. Soderberg now expects that the company will post earnings of ($0.83) per share for the year, down from their prior estimate of ($0.82). Cantor Fitzgerald currently has a "Overweight" rating and a $30.00 target price on the stock. The consensus estimate for Enovix's current full-year earnings is ($1.01) per share.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The business had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million.

Separately, Craig Hallum cut their target price on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.30.

Enovix Trading Down 4.8 %

ENVX traded down $0.32 on Monday, hitting $6.31. 9,146,942 shares of the company were exchanged, compared to its average volume of 6,123,190. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The firm has a fifty day simple moving average of $9.46 and a two-hundred day simple moving average of $9.96. The stock has a market capitalization of $1.21 billion, a PE ratio of -4.35 and a beta of 1.93. Enovix has a 12 month low of $5.70 and a 12 month high of $18.68.

Insider Activity at Enovix

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value of $2,805,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,045,301 shares in the company, valued at $19,123,564.35. This trade represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Coppell Advisory Solutions LLC purchased a new stake in Enovix in the fourth quarter worth $27,000. Fifth Third Bancorp increased its stake in shares of Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. Sava Infond d.o.o. purchased a new position in Enovix during the 4th quarter valued at about $43,000. Hollencrest Capital Management boosted its stake in Enovix by 61.4% during the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock worth $57,000 after acquiring an additional 2,000 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Enovix in the fourth quarter worth about $64,000. Hedge funds and other institutional investors own 50.92% of the company's stock.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.