Enovix (NASDAQ:ENVX) Releases 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 (EPS) guidance of -0.150--0.150 for the period, compared to the consensus 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 Stock Performance

Shares of Enovix stock traded up $1.23 during trading on Monday, hitting $12.62. 14,318,279 shares of the stock were exchanged, compared to its average volume of 5,859,240. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -9.82 and a beta of 2.09. The company has a fifty day moving average price of $8.16 and a 200-day moving average price of $8.95. Enovix has a 1-year low of $5.27 and a 1-year high of $18.68. The company has a current ratio of 4.68, a quick ratio of 4.49 and a debt-to-equity ratio of 0.71.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ENVX. TD Securities reduced their price objective 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 reduced 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. 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 Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Enovix has a consensus rating of "Moderate Buy" and an average target price of $17.27.

Hedge Funds Weigh In On Enovix

Institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in shares of 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 acquiring an additional 2,481 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Enovix by 5.1% during the 1st 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 in the last quarter. Caxton Associates LLP acquired a new stake in Enovix during the 1st quarter worth approximately $190,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Enovix by 18.4% during 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 buying an additional 55,676 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Enovix by 65.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company's stock worth $8,351,000 after buying an additional 449,934 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

About Enovix

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.

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