Enovix (NASDAQ:ENVX) Upgraded at Wall Street Zen

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

Several other research analysts have also recently weighed in on ENVX. TD Cowen lowered their price objective on Enovix from $7.00 to $5.50 and set a “hold” rating on the stock in a research report on Friday, July 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price target on shares of Enovix in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovix in a research report on Wednesday, July 8th. Craig Hallum set a $7.00 price objective on shares of Enovix in a research note on Thursday, August 13th. Finally, Loop Capital raised shares of Enovix to a “strong-buy” rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Enovix currently has a consensus rating of “Moderate Buy” and an average price target of $11.77.

Enovix Trading Down 2.6%

Shares of NASDAQ:ENVX opened at $3.02 on Friday. Enovix has a 12-month low of $2.98 and a 12-month high of $14.21. The business has a 50 day moving average of $4.05 and a 200-day moving average of $5.42. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. The stock has a market cap of $662.74 million, a PE ratio of -3.73 and a beta of 2.31.

Enovix (NASDAQ:ENVX) last announced its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $9.02 million for the quarter, compared to analyst estimates of $8.43 million. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%.The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. As a group, equities research analysts forecast that Enovix will post -0.8 earnings per share for the current year.

Institutional Investors Weigh In On Enovix

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Enovix in the 2nd quarter valued at about $100,054,000. Granahan Investment Management LLC lifted its holdings in shares of Enovix by 12.3% during the 4th quarter. Granahan Investment Management LLC now owns 1,964,565 shares of the company’s stock worth $14,361,000 after acquiring an additional 214,916 shares during the period. CenterBook Partners LP lifted its holdings in shares of Enovix by 66.1% during the 4th quarter. CenterBook Partners LP now owns 1,757,382 shares of the company’s stock worth $12,846,000 after acquiring an additional 699,519 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Enovix during the 2nd quarter worth approximately $8,689,000. Finally, Bank of America Corp DE acquired a new stake in shares of Enovix during the 2nd quarter worth approximately $8,356,000. Institutional investors own 50.92% of the company’s stock.

Enovix Company Profile

Enovix Corporation (NASDAQ: ENVX) is a battery technology company developing lithium-ion batteries with silicon-anode materials and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while maintaining safety and durability for applications that require compact, high-performance energy storage.

The company’s battery platform incorporates a silicon anode, a stainless-steel constraint system and its BrakeFlow technology, which is designed to help prevent thermal runaway from spreading within a battery pack.