Enovix Corporation (ENVX) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts have a “Moderate Buy” consensus on Enovix, with six buy ratings, one strong-buy, three holds and two sells. The average 12-month price target is $11.77, although individual targets and views vary significantly.
• Enovix’s preliminary third-quarter revenue was approximately $11 million, up 38% year over year and ahead of both company guidance and analyst expectations. Defense demand and an expanding customer pipeline were cited as potential growth drivers.
• The stock remains highly speculative: shares opened at $2.59, well below their 50-day and 200-day moving averages, while the company continues to report substantial losses and negative profitability metrics. Institutional investors own approximately 50.9% of the shares.

Enovix Corporation (NASDAQ:ENVX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $11.77.

A number of equities research analysts have commented on the company. Loop Capital raised Enovix to a "strong-buy" rating in a research note on Monday, August 17th. Bank of America reaffirmed a "neutral" rating and set a $5.00 target price on shares of Enovix 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 report on Thursday, August 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Enovix in a report on Friday, October 2nd. Finally, TD Cowen upgraded Enovix to a "hold" rating in a report on Monday, October 5th.

Institutional Investors Weigh In On Enovix

Institutional investors and hedge funds have recently made changes to their positions in the business. Apella Capital LLC lifted its position in Enovix by 120.8% in the 3rd quarter. Apella Capital LLC now owns 60,540 shares of the company's stock valued at $176,000 after acquiring an additional 33,120 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Enovix during the 2nd quarter valued at about $61,000. Engineers Gate Manager LP increased its holdings in Enovix by 132.4% during 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 in the last quarter. HB Wealth Management LLC increased its holdings in Enovix by 99.5% during the 2nd quarter. HB Wealth Management LLC now owns 30,664 shares of the company's stock worth $186,000 after purchasing an additional 15,294 shares in the last quarter. Finally, AXQ Capital LP raised its stake in shares of Enovix by 249.5% in the second quarter. AXQ Capital LP now owns 118,115 shares of the company's stock worth $717,000 after purchasing an additional 84,322 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company's stock.

More Enovix News

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: Preliminary Q3 revenue reached approximately $11 million, up 38% year over year and above the company’s $11 million guidance and the roughly $9.5 million analyst consensus. The results suggest Enovix is continuing to expand commercial shipments. Enovix Q3 Preliminary Revenue Rises 38%
• Positive Sentiment: Defense demand and an expanding customer pipeline were highlighted as growth drivers. Investors may view increased defense-sector interest as validation for Enovix’s battery technology and a potential source of future orders. Enovix reports $11 million Q3 revenue
• Positive Sentiment: The company’s updated third-quarter outlook called for revenue of $11 million and an EPS loss of approximately $0.14, both better than consensus estimates of $9.5 million and a $0.16 loss, respectively. Enovix Q3 Revenue Rises 38% to $11 Million, Exceeding Guidance as Defence Demand Grows
• Neutral Sentiment: Market coverage noted that ENVX shares gained early in the session, reflecting the favorable preliminary revenue update; however, the stock remains highly volatile and well below its longer-term moving averages. US Stocks Mixed; Enovix Shares Jump
• Negative Sentiment: Wall Street Zen recently downgraded Enovix to “Sell,” underscoring continuing concerns about profitability, execution and the company’s substantial cash needs despite the improved revenue outlook. Enovix Raised to Sell at Wall Street Zen

Enovix Price Performance

ENVX stock opened at $2.59 on Tuesday. The stock has a market capitalization of $568.37 million, a PE ratio of -3.20 and a beta of 2.49. The company's 50-day moving average is $3.33 and its 200-day moving average is $5.09. 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 has a 1 year low of $2.40 and a 1 year high of $14.21.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating 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 company had revenue of $9.02 million during the quarter, compared to the consensus estimate of $8.43 million. During the same period last year, the business posted ($0.13) EPS. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. Enovix has set its Q3 2026 guidance at -0.170--0.130 EPS. Equities research analysts expect that Enovix will post -0.80 EPS for the current fiscal year.

About Enovix

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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