Enovix (ENVX) Expected to Announce Quarterly Earnings on Thursday

Enovix (NASDAQ:ENVX - Get Free Report) is projected to issue its Q2 2025 quarterly earnings data after the market closes on Thursday, July 31st. Analysts expect the company to announce earnings of ($0.17) per share and revenue of $5.48 million for the quarter.

Enovix Stock Up 1.8%

ENVX traded up $0.26 during trading on Friday, hitting $14.69. The company had a trading volume of 7,508,596 shares, compared to its average volume of 10,530,767. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.68 and a quick ratio of 4.49. Enovix has a 1-year low of $5.27 and a 1-year high of $16.49. The business has a 50-day moving average of $10.43 and a 200-day moving average of $9.29. The company has a market cap of $2.82 billion, a PE ratio of -11.39 and a beta of 2.09.

Enovix announced that its board has authorized a stock repurchase program on Wednesday, July 2nd that authorizes the company to repurchase $60.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Enovix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Enovix by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company's stock worth $2,628,000 after purchasing an additional 55,676 shares during the period. Caxton Associates LLP acquired a new position in Enovix during the first quarter worth $190,000. Goldman Sachs Group Inc. raised its stake in Enovix by 65.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company's stock worth $8,351,000 after acquiring an additional 449,934 shares in the last quarter. NewEdge Advisors LLC raised its stake in Enovix by 10.4% during the first quarter. NewEdge Advisors LLC now owns 26,257 shares of the company's stock worth $193,000 after acquiring an additional 2,481 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enovix by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company's stock worth $722,000 after acquiring an additional 4,780 shares in the last quarter. Institutional investors and hedge funds own 50.92% of the company's stock.

Analyst Upgrades and Downgrades

ENVX has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $12.00 price objective (up previously from $9.00) on shares of Enovix in a report on Thursday. TD Securities cut their price target on shares of Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, May 1st. B. Riley reissued a "buy" rating and issued a $17.00 price target (up from $12.00) on shares of Enovix in a report on Thursday, July 10th. Wall Street Zen raised shares of Enovix from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Cowen reissued a "hold" rating on shares of Enovix in a report on Tuesday, July 8th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Enovix currently has an average rating of "Moderate Buy" and an average target price of $18.73.

Enovix Company Profile

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.