Enovix Corporation (NASDAQ:ENVX) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus is “Moderate Buy” among 12 brokerages, with six buys, one strong buy, three holds and two sells. The average 12-month price target is $11.77.
• Enovix shares opened at $3.38, near their 52-week low of $3.06 and well below the $14.21 high; the stock’s 50-day and 200-day moving averages were $4.99 and $5.73, respectively.
• In its latest quarter, Enovix reported a narrower-than-expected loss of $0.13 per share and revenue of $9.02 million, up 20.8% year over year. However, the company remains deeply unprofitable, with a negative net margin of 473.89%.

Enovix Corporation (NASDAQ:ENVX - Get Free Report) has received an average recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued 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 analysts that have issued ratings on the stock in the last year is $11.7727.

ENVX has been the subject of a number of analyst reports. Bank of America restated a "neutral" rating and set a $5.00 target price on shares of Enovix in a report on Monday, August 17th. William Blair lowered Enovix from an "outperform" rating to a "market perform" rating in a research report on Monday, August 17th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Enovix in a research report on Wednesday, July 8th. Canaccord Genuity Group cut their target price on Enovix from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Finally, Craig Hallum set a $7.00 target price on shares of Enovix in a report on Thursday, August 13th.

Institutional Investors Weigh In On Enovix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Enovix during the fourth quarter worth $30,000. Parallel Advisors LLC grew its stake in Enovix by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company's stock worth $39,000 after buying an additional 1,342 shares during the last quarter. CWM LLC increased its position in Enovix by 95.4% during the 4th quarter. CWM LLC now owns 6,081 shares of the company's stock valued at $44,000 after buying an additional 2,969 shares in the last quarter. Calamos Advisors LLC purchased a new stake in Enovix in the first quarter valued at about $60,000. Finally, Gateway Wealth Partners LLC purchased a new stake in Enovix in the first quarter valued at about $68,000. Hedge funds and other institutional investors own 50.92% of the company's stock.

Enovix Stock Performance

NASDAQ ENVX opened at $3.38 on Monday. Enovix has a one year low of $3.06 and a one year high of $14.21. The company has a debt-to-equity ratio of 2.46, a quick ratio of 9.37 and a current ratio of 9.71. The company has a market capitalization of $741.74 million, a price-to-earnings ratio of -4.17 and a beta of 2.32. The company's 50-day simple moving average is $4.99 and its two-hundred day simple moving average is $5.73.

Enovix (NASDAQ:ENVX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. The firm had revenue of $9.02 million during the quarter, compared to analysts' expectations of $8.43 million. During the same quarter in the prior year, the company earned ($0.13) EPS. The company's revenue 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 analysts forecast that Enovix will post -0.78 EPS for the current fiscal year.

About Enovix

Enovix Corporation NASDAQ: ENVX develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.

Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.

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