Enovix (NASDAQ:ENVX) Earns "Overweight" Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reiterated its “overweight” rating on Enovix and set a $25 price target, implying roughly 429% upside from the stock’s $4.73 price. Overall analyst sentiment remains mixed, with an average rating of “Hold” and an average target of $12.50.
• Enovix’s second-quarter loss of $0.13 per share beat estimates, while revenue rose 20.8% year over year to $9.02 million. However, the company remains deeply unprofitable and guided to another quarterly loss, with third-quarter revenue expected at $9 million to $10 million.
• Institutional investors own 50.92% of Enovix, with Vanguard, BlackRock, Electron Capital Partners, Geode Capital and State Street among major holders. Shares remain under pressure, trading below their 50-day and 200-day moving averages.

Enovix (NASDAQ:ENVX - Get Free Report)'s stock had its "overweight" rating reissued by equities researchers at Cantor Fitzgerald in a research report issued on Thursday,Benzinga reports. They presently have a $25.00 target price on the stock. Cantor Fitzgerald's price target suggests a potential upside of 428.54% from the stock's current price.

ENVX has been the subject of a number of other reports. TD Cowen dropped their price objective on shares of Enovix from $7.00 to $5.50 and set a "hold" rating for the company in a research note on Friday, July 24th. Oppenheimer cut their price objective on shares of Enovix from $24.00 to $21.00 and set an "outperform" rating on the stock in a research report on Thursday, May 14th. Craig Hallum cut their price target on shares of Enovix from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. Wall Street Zen raised Enovix from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. Finally, Benchmark cut their price target on shares of Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $12.50.

Enovix Trading Down 2.1%

Shares of ENVX opened at $4.73 on Thursday. Enovix has a 1 year low of $3.67 and a 1 year high of $14.21. The company has a 50 day simple moving average of $5.47 and a two-hundred day simple moving average of $5.90. The company has a debt-to-equity ratio of 2.14, a current ratio of 10.97 and a quick ratio of 10.65. The firm has a market cap of $1.03 billion, a P/E ratio of -5.70 and a beta of 2.32.

Enovix (NASDAQ:ENVX - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. Enovix had a negative net margin of 499.64% and a negative return on equity of 64.28%. The company had revenue of $9.02 million during the quarter, compared to analysts' expectations of $8.43 billion. During the same period last year, the company posted ($0.13) earnings per share. Enovix's quarterly revenue was up 20.8% on a year-over-year basis. Enovix has set its Q3 2026 guidance at -0.170--0.130 EPS. On average, equities analysts expect that Enovix will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovix

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Enovix by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company's stock worth $129,831,000 after acquiring an additional 1,747,145 shares during the period. BlackRock Inc. purchased a new position in Enovix in the 2nd quarter valued at about $100,054,000. Electron Capital Partners LLC boosted its holdings in Enovix by 13.8% in the 3rd quarter. Electron Capital Partners LLC now owns 8,038,396 shares of the company's stock worth $80,143,000 after buying an additional 972,103 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Enovix by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 4,413,492 shares of the company's stock worth $32,268,000 after buying an additional 253,906 shares during the last quarter. Finally, State Street Corp increased its stake in Enovix by 2.0% during the 4th quarter. State Street Corp now owns 3,959,029 shares of the company's stock worth $28,941,000 after buying an additional 77,079 shares in the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Enovix News Summary

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: Enovix reported second-quarter adjusted EPS of a $0.13 loss, beating analysts’ expected $0.15 loss. Revenue reached $9.02 million, up 20.8% year over year and ahead of consensus estimates. Enovix Reports Second Quarter 2026 Results
• Positive Sentiment: Management continued to highlight potential demand for Enovix’s silicon-anode batteries across smartphones, wearables and defense applications. These markets could support longer-term growth if the company successfully scales production and converts customer interest into commercial orders. ENVX stock falls overnight despite Q2 beat
• Neutral Sentiment: For the third quarter, Enovix guided to an adjusted EPS loss of $0.17 to $0.13, broadly near the $0.15 consensus estimate. The company’s revenue outlook of $9 million to $10 million implies continued growth but remains below the approximately $10.3 million analyst expectation. Enovix Q2 2026 Earnings Call Transcript
• Negative Sentiment: Enovix remains deeply unprofitable, with a quarterly net margin of roughly negative 500% and a negative return on equity. The company also expects another quarterly loss, reinforcing concerns about the timing of profitability and the execution risks involved in scaling its battery technology. Enovix Reports Q2 Loss, Tops Revenue Estimates
• Negative Sentiment: The revenue-guidance shortfall appears to have outweighed the earnings beat, contributing to weaker investor sentiment. ENVX is trading below both its 50-day and 200-day moving averages, indicating continued technical pressure.

Enovix Company Profile

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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