Free Trial
NASDAQ:ENVX

Enovix (ENVX) Stock Price, News & Analysis

$13.22
+0.86 (+6.96%)
(As of 06/12/2024 ET)
Today's Range
$12.78
$14.19
50-Day Range
$5.84
$13.22
52-Week Range
$5.70
$23.90
Volume
12.55 million shs
Average Volume
5.05 million shs
Market Capitalization
$2.25 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$18.33

Enovix MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.86 Rating Score
Upside/​Downside
38.7% Upside
$18.33 Price Target
Short Interest
Bearish
31.35% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
1.21mentions of Enovix in the last 14 days
Based on 12 Articles This Week
Insider Trading
Selling Shares
$36,214 Sold Last Quarter
Proj. Earnings Growth
Growing
From ($1.15) to ($0.84) Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

2.96 out of 5 stars

Oils/Energy Sector

123rd out of 235 stocks

Miscellaneous Electrical Machinery, Equipment, & Supplies Industry

11th out of 27 stocks

ENVX stock logo

About Enovix Stock (NASDAQ:ENVX)

Enovix Corporation, headquartered in Fremont, California, is a leading manufacturer of advanced lithium-ion batteries for use in a variety of applications, including electric vehicles, consumer electronics, and grid storage. The company's innovative battery design, incorporating a 3D cell architecture, offers higher energy density, improved safety, and longer cycle life than traditional lithium-ion batteries. Founded in 2007, Enovix has quickly become a leader in the battery industry, with a growing list of partners and customers.

A highly experienced management team leads Enovix with deep expertise in the battery industry. The company's Chief Executive Officer, Dr. Raj Tallurl, was appointed in Q1 2023. Over his 30-year career, Raj has shown effective leadership in the semiconductor space and hopes to bring that success to Enovix Corp. 

Enovix has demonstrated strong financial performance in recent years, with steady revenue growth and improving profit margins. While the company does not disclose specific financial data, Enovix's revenue has increased yearly. It has reduced its production costs through ongoing investments in manufacturing efficiency. Enovix has maintained a strong balance sheet, with manageable debt levels and a stable ownership structure.

Despite its strong financial performance, Enovix's current valuation is relatively modest compared to its peers in the battery industry. The company's current price-to-earnings ratio is below the industry average, reflecting investors' cautious optimism about the company's growth prospects. Enovix's market performance has been mixed, with the stock experiencing significant volatility recently. While the company has seen some price increases driven by positive news and investor sentiment, the stock has also been subject to sell-offs in response to broader market trends.

Enovix operates in a rapidly evolving industry that is subject to a range of technological and regulatory challenges. The battery market is highly competitive, with several prominent players dominating the market, including Tesla, LG Chem, and Panasonic. Enovix's success depends on its ability to continue to innovate and develop new products that offer superior performance and safety compared to its competitors. The company also faces regulatory and political challenges, including changes to government policies and regulations related to using batteries in electric vehicles and other applications.

Despite these challenges, Enovix has several growth opportunities that could help propel the company forward in the coming years. One key area of focus for the company is the development of new products and technologies, including advanced lithium-ion batteries for use in electric vehicles and grid storage applications. Enovix is also exploring expanding its manufacturing capacity and entering new domestic and international markets. In addition, the company is actively pursuing partnerships with other industry players to collaborate on research and development efforts and drive innovation in the battery market.

As with any company, Enovix faces several risks and challenges that could impact its future growth and success. In addition to the competitive and regulatory challenges mentioned earlier, the company is also subject to changing consumer preferences and market trends, which could impact product demand. Enovix must also manage its manufacturing and supply chain operations effectively to ensure that it can meet the growing demand for its products while maintaining high levels of quality and efficiency.

ENVX Stock Price History

ENVX Stock News Headlines

3 EV Battery Stocks to Buy for China's Battery Push
Enovix: Poised To Gain Clout In The Smartphone Battery Space
Reviewing Enovix (NASDAQ:ENVX) and Electriq Power (NYSE:ELIQ)
Enovix: Growing Confidence In Execution
ENVX May 2024 11.500 call
Enovix Unusual Options Activity For May 14
3 Clean Tech Stocks With Over 40% Upside Per JPMorgan Analysts
Enovix Begins Customer Sampling of EX-1M Batteries
See More Headlines
Receive ENVX Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Enovix and its competitors with MarketBeat's FREE daily newsletter.

Company Calendar

Last Earnings
5/01/2024
Today
6/12/2024
Next Earnings (Estimated)
7/24/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Miscellaneous electrical machinery, equipment, & supplies
Sub-Industry
N/A
Current Symbol
NASDAQ:ENVX
Fax
N/A
Employees
560
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$18.33
High Stock Price Target
$30.00
Low Stock Price Target
$12.00
Potential Upside/Downside
+38.7%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.86
Research Coverage
7 Analysts

Profitability

Net Income
$-214,070,000.00
Net Margins
-1,448.90%
Pretax Margin
-1,456.46%

Debt

Sales & Book Value

Annual Sales
$7.64 million
Book Value
$1.56 per share

Miscellaneous

Free Float
140,590,000
Market Cap
$2.25 billion
Optionable
Optionable
Beta
1.95
The 10 Best AI Stocks to Own in 2024 Cover

Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.

Get This Free Report

Key Executives

  • Dr. Thurman John Rodgers Ph.D. (Age 76)
    Executive Chairman of the Board
    Comp: $70k
  • Mr. Ajay Marathe (Age 62)
    Chief Operating Officer
    Comp: $403.99k
  • Dr. Raj Talluri (Age 61)
    President, CEO & Director
  • Dr. Robert M. Spotnitz
    Founder
  • Mr. Farhan Ahmad
    Chief Financial Officer
  • Mr. Charles Lowell Anderson
    Senior Vice President of Investor Relations & Corporate Strategy
  • Ms. Arthi Chakravarthy (Age 45)
    Chief Legal Officer, General Counsel & Secretary
  • Ms. Kristin Atkins
    Vice President of Corporate Communications & Marketing
  • Ms. Iryna Romaniv
    Vice President of Human Resources
  • Dr. James Wilcox Ph.D.
    VP of Business Development & Head of Enovix Mobility

ENVX Stock Analysis - Frequently Asked Questions

Should I buy or sell Enovix stock right now?

7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Enovix in the last twelve months. There are currently 1 hold rating and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" ENVX shares.
View ENVX analyst ratings
or view top-rated stocks.

What is Enovix's stock price target for 2024?

7 brokerages have issued twelve-month target prices for Enovix's shares. Their ENVX share price targets range from $12.00 to $30.00. On average, they anticipate the company's stock price to reach $18.33 in the next year. This suggests a possible upside of 38.7% from the stock's current price.
View analysts price targets for ENVX
or view top-rated stocks among Wall Street analysts.

How have ENVX shares performed in 2024?

Enovix's stock was trading at $12.52 on January 1st, 2024. Since then, ENVX stock has increased by 5.6% and is now trading at $13.22.
View the best growth stocks for 2024 here
.

When is Enovix's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, July 24th 2024.
View our ENVX earnings forecast
.

How were Enovix's earnings last quarter?

Enovix Co. (NASDAQ:ENVX) posted its quarterly earnings data on Wednesday, May, 1st. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by $0.05. The company earned $5.27 million during the quarter, compared to the consensus estimate of $4.16 million. Enovix had a negative net margin of 1,448.90% and a negative trailing twelve-month return on equity of 85.47%.

What ETFs hold Enovix's stock?
What guidance has Enovix issued on next quarter's earnings?

Enovix updated its second quarter earnings guidance on Wednesday, May, 1st. The company provided earnings per share guidance of $(0.28)-$(0.22) for the period, compared to the consensus earnings per share estimate of ($0.23). The company issued revenue guidance of $3.0-4.0 million, compared to the consensus revenue estimate of $4.07 million.

Who are Enovix's major shareholders?

Enovix's stock is owned by a variety of retail and institutional investors. Top institutional investors include Vanguard Group Inc. (7.71%), Mirae Asset Global Investments Co. Ltd. (0.85%), Masters Capital Management LLC (0.79%), Simplex Trading LLC (0.00%), Refined Wealth Management (0.27%) and Aristides Capital LLC (0.00%). Insiders that own company stock include Ajay Marathe, Ashok Lahiri, Betsy S Atkins, Gardner Cameron Dales, Harrold J Rust, J Daniel Mccranie, Park West Asset Management Llc, Rajendra K Talluri and Thurman J Rodgers.
View institutional ownership trends
.

How do I buy shares of Enovix?

Shares of ENVX stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:ENVX) was last updated on 6/13/2024 by MarketBeat.com Staff

From Our Partners