Enovix (NASDAQ:ENVX) Issues Quarterly Earnings Results

Key Points

• Enovix exceeded quarterly expectations, reporting an adjusted loss of $0.13 per share versus the consensus estimate of a $0.15 loss. Revenue reached $9.02 million, above forecasts of $8.43 million.
• The company guided for a third-quarter 2026 loss of $0.17 to $0.13 per share, while maintaining significant profitability challenges with a negative net margin of 499.64%.
• ENVX shares fell to $4.73, and analysts maintained a consensus “Hold” rating with a $12.50 target price; institutional investors own approximately 50.92% of the stock.

Enovix (NASDAQ:ENVX - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02, FiscalAI reports. Enovix had a negative return on equity of 64.28% and a negative net margin of 499.64%.The company had revenue of $9.02 million during the quarter, compared to analysts' expectations of $8.43 million. Enovix updated its Q3 2026 guidance to -0.170--0.130 EPS.

Enovix Price Performance

ENVX stock traded down $0.10 on Wednesday, reaching $4.73. 8,703,170 shares of the company's stock were exchanged, compared to its average volume of 6,361,176. Enovix has a twelve month low of $3.67 and a twelve month high of $14.21. The company has a quick ratio of 10.65, a current ratio of 10.97 and a debt-to-equity ratio of 2.14. The stock has a fifty day moving average of $5.54 and a 200-day moving average of $5.92. The firm has a market cap of $1.03 billion, a PE ratio of -5.70 and a beta of 2.32.

Institutional Investors Weigh In On Enovix

A number of institutional investors and hedge funds have recently modified their holdings of ENVX. Parallel Advisors LLC raised its stake in shares of Enovix by 51.9% during the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company's stock worth $39,000 after buying an additional 1,342 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Enovix during the 4th quarter valued at about $77,000. CIBC Asset Management Inc acquired a new position in Enovix during the fourth quarter worth about $78,000. Wilmington Savings Fund Society FSB acquired a new position in Enovix during the third quarter worth about $80,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Enovix in the fourth quarter valued at about $82,000. Institutional investors and hedge funds own 50.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ENVX. Weiss Ratings reissued a "sell (e+)" rating on shares of Enovix in a report on Wednesday, July 8th. Benchmark decreased their price target on Enovix from $25.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Enovix from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. TD Cowen cut their price objective on shares of Enovix from $7.00 to $5.50 and set a "hold" rating for the company in a research report on Friday, July 24th. Finally, Craig Hallum reduced their target price on shares of Enovix from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $12.50.

About Enovix

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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