Enovix (NASDAQ:ENVX) Updates Q3 2026 Earnings Guidance

Key Points

• Enovix guided for Q3 2026 EPS of -$0.17 to -$0.13, broadly in line with the consensus estimate of -$0.15, while revenue guidance of $9 million to $10 million fell below the $10.3 million analyst forecast.
• Analyst sentiment remains mixed: six analysts rate Enovix a Buy, two Hold, and two Sell, resulting in a consensus “Hold” rating and a $12.50 price target after several firms reduced their targets.
• Shares traded around $4.73, well below the 52-week high of $14.21. The company remains deeply unprofitable, with a negative net margin of 499.64%, although its latest quarterly loss of $0.13 per share beat estimates.

Enovix (NASDAQ:ENVX - Get Free Report) updated its third quarter 2026 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -0.170--0.130 for the period, compared to the consensus EPS estimate of -0.150. The company issued revenue guidance of $9.0 million-$10.0 million, compared to the consensus revenue estimate of $10.3 million.

Wall Street Analysts Forecast Growth

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

Enovix Stock Performance

NASDAQ ENVX traded down $0.10 during trading hours on Wednesday, hitting $4.73. 8,784,618 shares of the company's stock traded hands, compared to its average volume of 6,373,630. The business's fifty day moving average price is $5.54 and its two-hundred day moving average price is $5.92. The company has a current ratio of 10.97, a quick ratio of 10.65 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $1.03 billion, a P/E ratio of -5.70 and a beta of 2.32. Enovix has a 52 week low of $3.67 and a 52 week high of $14.21.

Enovix (NASDAQ:ENVX - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $9.02 million during the quarter, compared to analysts' expectations of $8.43 million. Enovix has set its Q3 2026 guidance at -0.170--0.130 EPS. Equities research analysts predict that Enovix will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Enovix

A number of institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in Enovix by 51.9% in the third quarter. Parallel Advisors LLC now owns 3,926 shares of the company's stock worth $39,000 after buying an additional 1,342 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Enovix during the 3rd quarter valued at approximately $80,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Enovix during the 3rd quarter valued at approximately $100,000. Mackenzie Financial Corp purchased a new stake in Enovix in the 4th quarter worth approximately $77,000. Finally, CIBC Asset Management Inc purchased a new stake in Enovix in the 4th quarter worth approximately $78,000. 50.92% of the stock is owned by institutional investors.

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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