Enovix Corporation (NASDAQ:ENVX) Stock Has Consensus Target Price of $10.77

Key Points

• Analyst sentiment is moderately positive: Twelve brokerages give Enovix a consensus “Moderate Buy” rating, with an average 12-month price target of $10.77.
• Enovix reported quarterly EPS of -$0.13, beating the -$0.15 consensus estimate, and revenue of $9.02 million, above expectations and up 20.8% year over year.
• The company announced a 5-for-4 stock split, with new shares scheduled to be distributed after the market closes on November 12.

Enovix Corporation (NASDAQ:ENVX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twelve brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.77.

A number of research firms have issued reports on ENVX. Weiss Ratings reiterated a "sell (e+)" rating on shares of Enovix in a report on Friday, October 2nd. Northland Securities set a $5.00 price target on shares of Enovix in a research note on Tuesday, October 13th. TD Cowen raised Enovix to a "hold" rating in a research report on Monday, October 5th. Canaccord Genuity Group decreased their price objective on shares of Enovix from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Finally, Wall Street Zen lowered shares of Enovix from a "sell" rating to a "strong sell" rating in a research report on Saturday, October 31st.

Enovix Stock Up 15.0%

Shares of ENVX opened at $2.76 on Friday. The stock has a 50 day simple moving average of $2.89 and a two-hundred day simple moving average of $5.03. Enovix has a 1 year low of $2.19 and a 1 year high of $9.89. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37. The firm has a market cap of $605.68 million, a P/E ratio of -3.41 and a beta of 2.34.

Enovix's stock is set to split on Friday, November 13th. The 5-4 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Thursday, November 12th.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $9.02 million for the quarter, compared to analysts' expectations of $8.43 million. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. The firm's revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170--0.130 EPS. On average, analysts forecast that Enovix will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Enovix in the second quarter valued at about $100,054,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enovix in the 2nd quarter worth approximately $8,689,000. Bank of America Corp DE purchased a new position in Enovix in the second quarter worth about $8,356,000. Bank of New York Mellon Corp bought a new position in shares of Enovix during the second quarter valued at approximately $3,551,000. Finally, Deutsche Bank AG acquired a new position in Enovix during the second quarter valued at $3,343,000. 50.92% of the stock is owned by institutional investors.

About Enovix

Enovix Corporation is a battery technology company that develops lithium-ion batteries using a silicon-anode architecture. Its approach is designed to increase energy density while maintaining safety and cycle-life characteristics through a three-dimensional cell design and a mechanical constraint system that helps manage silicon expansion during charging.

The company's products are intended for applications that require compact, high-performance power sources, including consumer electronics, wearable devices, Internet of Things equipment, industrial products, and defense and aerospace systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.