Enovix Shares Set to Split on Friday, November 13th (NASDAQ:ENVX)

Key Points

• Enovix announced a 5-for-4 stock split effective before market open on Friday, November 13, with new shares distributed after Thursday’s market close.
• ENVX shares fell 9.7% to $3.17, while the company reported a quarterly loss of $0.13 per share—better than estimates—and revenue of $9.02 million, up 20.8% year over year.
• Analyst sentiment remains moderately positive, with an average rating of “Moderate Buy” and a $10.77 price target; institutional investors own 50.92% of the stock after several firms initiated positions.

Shares of Enovix Corporation (NASDAQ:ENVX - Free Report) are set to split before the market opens on Friday, November 13th. The 5-4 split was recently announced. The newly created shares will be issued to shareholders after the closing bell on Thursday, November 12th.

Enovix Stock Down 9.7%

Shares of NASDAQ:ENVX traded down $0.34 during trading on Friday, reaching $3.17. 3,402,129 shares of the stock were exchanged, compared to its average volume of 7,094,264. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37. The stock has a fifty day moving average of $2.96 and a two-hundred day moving average of $5.19. The firm has a market cap of $695.66 million, a price-to-earnings ratio of -3.91 and a beta of 2.49. Enovix has a 1-year low of $2.20 and a 1-year high of $12.40.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%. The firm had revenue of $9.02 million during the quarter, compared to the consensus estimate of $8.43 million. During the same period in the prior year, the business posted ($0.13) earnings per share. The company's quarterly revenue was up 20.8% compared to the same quarter last year. Enovix has set its Q3 2026 guidance at -0.170--0.130 EPS. Research analysts anticipate that Enovix will post -0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ENVX. Craig Hallum set a $7.00 price objective on Enovix in a research note on Thursday, August 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $25.00 target price on shares of Enovix in a research note on Thursday, August 13th. Loop Capital raised shares of Enovix to a "strong-buy" rating in a report on Monday, August 17th. B. Riley Financial reduced their price objective on Enovix from $10.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Finally, William Blair downgraded shares of Enovix from an "outperform" rating to a "market perform" rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $10.77.

Institutional Investors Weigh In On Enovix

Several institutional investors have recently made changes to their positions in ENVX. BlackRock Inc. acquired a new stake in Enovix in the second quarter valued at approximately $100,054,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Enovix in the 2nd quarter worth approximately $8,689,000. Bank of America Corp DE purchased a new stake in shares of Enovix during the 2nd quarter worth about $8,356,000. Bank of New York Mellon Corp acquired a new position in Enovix during the second quarter worth $3,551,000. Finally, Deutsche Bank AG purchased a new position in Enovix in the 2nd quarter valued at $3,343,000. Institutional investors own 50.92% of the company's stock.

About Enovix

Enovix Corporation is a battery technology company that develops lithium-ion batteries using a silicon-anode architecture. Its approach is designed to increase energy density while maintaining safety and cycle-life characteristics through a three-dimensional cell design and a mechanical constraint system that helps manage silicon expansion during charging.

The company's products are intended for applications that require compact, high-performance power sources, including consumer electronics, wearable devices, Internet of Things equipment, industrial products, and defense and aerospace systems.

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