Enovix (ENVX) Expected to Announce Earnings on Thursday

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

Enovix Price Performance

Shares of NASDAQ ENVX traded up $0.26 during trading hours on Friday, hitting $14.69. 7,508,596 shares of the stock were exchanged, compared to its average volume of 10,530,767. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.49 and a current ratio of 4.68. The company has a market cap of $2.82 billion, a PE ratio of -11.39 and a beta of 2.09. The company's fifty day simple moving average is $10.43 and its two-hundred day simple moving average is $9.31. Enovix has a 1-year low of $5.27 and a 1-year high of $16.49.

Enovix announced that its Board of Directors has authorized a share repurchase plan on Wednesday, July 2nd that authorizes the company to repurchase $60.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ENVX shares. B. Riley restated a "buy" rating and issued a $17.00 target price (up previously from $12.00) on shares of Enovix in a research report on Thursday, July 10th. Benchmark raised their target price on shares of Enovix from $15.00 to $25.00 and gave the company a "buy" rating in a research report on Friday. TD Cowen upgraded shares of Enovix to a "hold" rating and raised their target price for the company from $7.00 to $15.00 in a research report on Monday, July 7th. JPMorgan Chase & Co. restated 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. Finally, Cowen restated a "hold" rating on shares of Enovix in a research report on Tuesday, July 8th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Enovix currently has a consensus rating of "Moderate Buy" and an average target price of $18.73.

Hedge Funds Weigh In On Enovix

Several large investors have recently modified their holdings of ENVX. 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 buying an additional 4,780 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Enovix by 10.4% in the first quarter. NewEdge Advisors LLC now owns 26,257 shares of the company's stock valued at $193,000 after buying an additional 2,481 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Enovix by 65.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company's stock valued at $8,351,000 after buying an additional 449,934 shares during the period. Caxton Associates LLP acquired a new position in Enovix in the first quarter valued at $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 valued at $2,628,000 after buying an additional 55,676 shares during the period. Institutional investors own 50.92% of the company's stock.

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.