Enovix (ENVX) Expected to Announce Quarterly Earnings on Wednesday

Enovix (NASDAQ:ENVX - Get Free Report) is anticipated to issue its Q1 2025 quarterly earnings data before the market opens on Wednesday, May 7th. Analysts expect the company to announce earnings of ($0.18) per share and revenue of $4.72 million for the quarter. Enovix has set its Q1 2025 guidance at -0.210--0.150 EPS.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The business had revenue of $9.72 million for the quarter, compared to analysts' expectations of $8.77 million. On average, analysts expect Enovix to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Enovix Price Performance

NASDAQ:ENVX traded up $0.11 during trading hours on Friday, hitting $6.59. 4,075,403 shares of the stock were exchanged, compared to its average volume of 6,074,323. The firm's fifty day moving average price is $6.98 and its 200 day moving average price is $9.16. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.27 billion, a P/E ratio of -4.54 and a beta of 1.99. Enovix has a 52-week low of $5.27 and a 52-week high of $18.68.

Insider Transactions at Enovix

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the sale, the chief executive officer now directly owns 2,045,301 shares of the company's stock, valued at $19,123,564.35. This represents a 12.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ENVX has been the subject of several research analyst reports. Benchmark lowered their price target on Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. B. Riley lowered their price objective on shares of Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. TD Securities reduced their price objective on shares of Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday, February 20th. Finally, Craig Hallum decreased their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Enovix currently has an average rating of "Moderate Buy" and a consensus target price of $17.27.

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.