Enovix (NASDAQ:ENVX) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Enovix (NASDAQ:ENVX) from a sell rating to a strong sell rating in a research report report published on Saturday morning.

Several other analysts have also recently issued reports on ENVX. Oppenheimer dropped their target price on Enovix from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. B. Riley Financial reduced their price target on Enovix from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. William Blair cut shares of Enovix from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. TD Cowen lowered their price target on shares of Enovix from $7.00 to $5.50 and set a “hold” rating on the stock in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. lowered shares of Enovix from a “neutral” rating to an “underweight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.77.

Enovix Trading Up 3.4%

Shares of Enovix stock opened at $3.38 on Friday. The stock has a market cap of $741.74 million, a P/E ratio of -4.17 and a beta of 2.32. The stock’s 50 day simple moving average is $4.99 and its 200-day simple moving average is $5.74. Enovix has a 1-year low of $3.06 and a 1-year high of $14.21. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating 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 analysts’ expectations of $8.43 million. During the same quarter last year, the firm earned ($0.13) earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Analysts predict that Enovix will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ENVX. AXQ Capital LP increased its stake in Enovix by 249.5% during the second quarter. AXQ Capital LP now owns 118,115 shares of the company’s stock worth $717,000 after acquiring an additional 84,322 shares during the last quarter. Headlands Technologies LLC raised its position in Enovix by 231.6% in the second quarter. Headlands Technologies LLC now owns 301,781 shares of the company’s stock valued at $1,832,000 after purchasing an additional 210,782 shares during the period. Flputnam Investment Management Co. lifted its stake in shares of Enovix by 36.9% in the 2nd quarter. Flputnam Investment Management Co. now owns 142,608 shares of the company’s stock valued at $866,000 after purchasing an additional 38,453 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Enovix by 69.7% in the 2nd quarter. Hsbc Holdings PLC now owns 42,150 shares of the company’s stock valued at $261,000 after purchasing an additional 17,319 shares during the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Enovix during the 2nd quarter worth $290,000. 50.92% of the stock is currently owned by institutional investors and hedge funds.

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.