FY2025 EPS Estimates for Enovix Lowered by Cantor Fitzgerald

Enovix Co. (NASDAQ:ENVX - Free Report) - Equities researchers at Cantor Fitzgerald decreased their FY2025 earnings per share (EPS) estimates for Enovix in a report released on Thursday, May 1st. Cantor Fitzgerald analyst D. Soderberg now anticipates that the company will earn ($0.90) per share for the year, down from their previous estimate of ($0.83). Cantor Fitzgerald currently has a "Overweight" rating and a $30.00 target price on the stock. The consensus estimate for Enovix's current full-year earnings is ($1.01) per share.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The firm had revenue of $9.72 million during the quarter, compared to analysts' expectations of $8.77 million.

Other equities analysts have also recently issued reports about the stock. Craig Hallum dropped their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on shares of Enovix from $10.00 to $9.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. TD Securities reduced their price objective on Enovix from $10.00 to $7.00 and set a "hold" rating for the company in a report on Thursday, May 1st. B. Riley cut their price target on Enovix from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, 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 Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.27.

Enovix Stock Performance

ENVX stock traded up $0.04 during trading on Monday, hitting $6.52. The company had a trading volume of 1,902,053 shares, compared to its average volume of 6,043,960. The firm has a 50-day moving average price of $7.02 and a 200-day moving average price of $9.20. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The firm has a market cap of $1.25 billion, a PE ratio of -4.50 and a beta of 1.99. Enovix has a 1-year low of $5.27 and a 1-year high of $18.68.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ENVX. Vanguard Group Inc. grew its stake in shares of Enovix by 15.1% during the 4th quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock valued at $171,458,000 after buying an additional 2,063,631 shares during the period. Fred Alger Management LLC boosted its holdings in Enovix by 212.4% in the fourth quarter. Fred Alger Management LLC now owns 1,838,914 shares of the company's stock valued at $19,989,000 after acquiring an additional 1,250,300 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Enovix during the fourth quarter valued at about $3,484,000. Frontier Capital Management Co. LLC acquired a new stake in Enovix during the fourth quarter worth about $3,397,000. Finally, Geode Capital Management LLC raised its holdings in shares of Enovix by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company's stock worth $41,520,000 after purchasing an additional 235,142 shares during the period. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.35, for a total value of $2,805,000.00. Following the sale, the chief executive officer now directly owns 2,045,301 shares of the company's stock, valued at approximately $19,123,564.35. This trade represents a 12.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.70% 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.