Enovix Corporation (NASDAQ:ENVX) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give Enovix a “Moderate Buy” consensus: six rate the stock a buy, one a strong buy, three hold, and two sell. The average 12-month price target is $11.77, well above the recent $2.94 share price.
• Institutional ownership increased significantly, with BlackRock and several other investment firms initiating positions during the second quarter; hedge funds and institutions now own 50.92% of the stock.
• Enovix reported quarterly revenue of $9.02 million, up 20.8% year over year, and an adjusted loss of $0.13 per share that beat estimates. However, the company remains deeply unprofitable, with a negative net margin of 473.89% and projected full-year EPS of -$0.80.

Enovix Corporation (NASDAQ:ENVX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $11.7727.

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Enovix from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 12th. Weiss Ratings reissued a "sell (e+)" rating on shares of Enovix in a research report on Wednesday, July 8th. TD Cowen reduced their price objective on shares of Enovix from $7.00 to $5.50 and set a "hold" rating for the company in a research note on Friday, July 24th. Bank of America reaffirmed a "neutral" rating and issued a $5.00 target price on shares of Enovix in a report on Monday, August 17th. Finally, Craig Hallum set a $7.00 target price on shares of Enovix in a research note on Thursday, August 13th.

Hedge Funds Weigh In On Enovix

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Enovix during the 2nd quarter valued at $100,054,000. Perennial Investment Advisors LLC bought a new stake in shares of Enovix in the 2nd quarter worth $2,805,000. Bank of New York Mellon Corp purchased a new position in shares of Enovix in the second quarter worth $3,551,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enovix in the second quarter worth $8,689,000. Finally, Deutsche Bank AG bought a new position in shares of Enovix during the second quarter valued at $3,343,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Enovix Stock Performance

Enovix stock opened at $2.94 on Friday. Enovix has a twelve month low of $2.85 and a twelve month high of $14.21. 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 company has a market capitalization of $645.18 million, a P/E ratio of -3.63 and a beta of 2.31. The stock's 50 day moving average is $3.91 and its 200 day moving average is $5.36.

Enovix (NASDAQ:ENVX - Get Free Report) last released 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 business 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 company posted ($0.13) earnings per share. The company'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. On average, equities research analysts predict that Enovix will post -0.8 earnings per share for the current fiscal year.

About Enovix

Enovix Corporation NASDAQ: ENVX is a battery technology company developing lithium-ion batteries with silicon-anode materials and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while maintaining safety and durability for applications that require compact, high-performance energy storage.

The company's battery platform incorporates a silicon anode, a stainless-steel constraint system and its BrakeFlow technology, which is designed to help prevent thermal runaway from spreading within a battery pack.

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