Enovix (NASDAQ:ENVX) Updates Q2 2025 Earnings Guidance

Enovix (NASDAQ:ENVX - Get Free Report) issued an update on its second quarter 2025 earnings guidance on Monday morning. The company provided earnings per share guidance of -0.150--0.150 for the period, compared to the consensus earnings per share estimate of -0.170. The company issued revenue guidance of $7.5 million-$7.5 million, compared to the consensus revenue estimate of $5.5 million.

Enovix Trading Up 14.4%

Shares of Enovix stock traded up $1.64 during trading on Monday, hitting $13.03. The company's stock had a trading volume of 23,804,734 shares, compared to its average volume of 5,893,168. 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 52 week low of $5.27 and a 52 week high of $18.68. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -10.10 and a beta of 2.09. The stock has a 50-day moving average price of $8.28 and a two-hundred day moving average price of $8.98.

Enovix declared that its board has initiated a stock repurchase plan on Wednesday, July 2nd that permits the company to repurchase $60.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on ENVX shares. TD Securities dropped their target price on shares of Enovix from $10.00 to $7.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Benchmark dropped their target price on shares of Enovix from $25.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, B. Riley dropped their target price on shares of Enovix from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.27.

Institutional Investors Weigh In On Enovix

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caxton Associates LLP bought a new stake in Enovix in the 1st quarter worth about $190,000. NewEdge Advisors LLC grew its position in Enovix by 10.4% in the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company's stock worth $193,000 after purchasing an additional 2,481 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Enovix by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company's stock worth $722,000 after purchasing an additional 4,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Enovix by 18.4% in the 1st 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 in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Enovix by 65.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company's stock worth $8,351,000 after purchasing an additional 449,934 shares in the last quarter. Institutional investors and hedge funds 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.