Enovix (ENVX) Expected to Announce Quarterly Earnings on Wednesday

Enovix (NASDAQ:ENVX - Get Free Report) is expected to be releasing its Q1 2025 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 released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. The company had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. 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

Shares of NASDAQ:ENVX traded up $0.09 during trading on Wednesday, reaching $6.18. The company had a trading volume of 3,413,611 shares, compared to its average volume of 6,063,398. 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 fifty day moving average of $7.06 and a two-hundred day moving average of $9.24. Enovix has a 12 month low of $5.27 and a 12 month high of $18.68. The stock has a market capitalization of $1.18 billion, a P/E ratio of -4.26 and a beta of 1.99.

Insiders Place Their Bets

In other news, CEO Rajendra K. Talluri sold 300,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 2,045,301 shares of the company's stock, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ENVX shares. B. Riley dropped their price target on shares of Enovix from $17.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. TD Securities decreased their price target 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. Benchmark cut their target price on Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price target on shares of Enovix in a research report on Thursday, February 20th. Finally, Craig Hallum lowered their target price on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Enovix currently has an average rating of "Moderate Buy" and an average price target 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.