Enovix Corporation (NASDAQ:ENVX) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Enovix Corporation is rated as a "Moderate Buy" by ten analysts, with an average target price of $17.00.
• The company reported a significant revenue increase of 98.2% year-over-year, reaching $7.50 million, and exceeded earnings expectations.
• Enovix has approved a $60 million share repurchase program to reacquire up to 3.1% of its shares, signaling confidence in the stock's undervaluation.

Enovix Corporation (NASDAQ:ENVX - Get Free Report) has received an average rating of "Moderate Buy" from the ten analysts that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $17.00.

Several research analysts have weighed in on ENVX shares. B. Riley reissued a "buy" rating and set a $17.00 price objective (up from $12.00) on shares of Enovix in a report on Thursday, July 10th. Craig Hallum reiterated a "buy" rating and issued a $15.00 price target (up from $12.00) on shares of Enovix in a research note on Tuesday, July 8th. Cowen reissued a "hold" rating on shares of Enovix in a report on Tuesday, July 8th. TD Cowen raised Enovix to a "hold" rating and increased their target price for the stock from $7.00 to $15.00 in a report on Monday, July 7th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $12.00 target price (up previously from $9.00) on shares of Enovix in a research report on Thursday, July 24th.

Enovix Price Performance

ENVX stock opened at $9.19 on Monday. The stock's 50 day moving average is $11.90 and its two-hundred day moving average is $9.15. Enovix has a 52-week low of $5.27 and a 52-week high of $16.49. The company has a market capitalization of $1.81 billion, a PE ratio of -10.94 and a beta of 2.09. The company has a quick ratio of 4.11, a current ratio of 4.37 and a debt-to-equity ratio of 0.82.

Enovix (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02. The business had revenue of $7.50 million during the quarter, compared to the consensus estimate of $5.48 million. Enovix had a negative net margin of 481.35% and a negative return on equity of 73.88%. The business's quarterly revenue was up 98.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180--0.140 EPS. Analysts predict that Enovix will post -1.01 earnings per share for the current fiscal year.

Enovix declared that its board has approved a share repurchase program on Wednesday, July 2nd that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of Enovix

A number of institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG boosted its holdings in shares of Enovix by 44.8% in the 4th quarter. Deutsche Bank AG now owns 140,606 shares of the company's stock valued at $1,528,000 after buying an additional 43,498 shares during the period. Refined Wealth Management lifted its holdings in Enovix by 18.8% in the first quarter. Refined Wealth Management now owns 675,449 shares of the company's stock worth $4,958,000 after acquiring an additional 106,843 shares during the last quarter. Strong Tower Advisory Services boosted its stake in Enovix by 93.1% in the first quarter. Strong Tower Advisory Services now owns 144,045 shares of the company's stock valued at $1,057,000 after acquiring an additional 69,435 shares during the period. CenterBook Partners LP grew its holdings in shares of Enovix by 71.0% during the first quarter. CenterBook Partners LP now owns 1,736,570 shares of the company's stock valued at $12,746,000 after purchasing an additional 721,309 shares during the last quarter. Finally, L & S Advisors Inc grew its holdings in shares of Enovix by 50.6% during the first quarter. L & S Advisors Inc now owns 191,975 shares of the company's stock valued at $1,409,000 after purchasing an additional 64,471 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

About Enovix

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.

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