B. Riley Financial Lowers Enovix (NASDAQ:ENVX) Price Target to $9.00

Enovix (NASDAQ:ENVX) had its price objective dropped by research analysts at B. Riley Financial from $10.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price objective would indicate a potential upside of 90.27% from the stock’s current price.

A number of other analysts have also recently commented on the company. Benchmark cut their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price target on shares of Enovix in a report on Thursday. Craig Hallum reduced their price objective on shares of Enovix from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Wall Street Zen raised shares of Enovix from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Enovix in a research report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.41.

Enovix Trading Down 2.1%

ENVX stock opened at $4.73 on Thursday. Enovix has a 52-week low of $3.67 and a 52-week high of $14.21. The company has a quick ratio of 10.65, a current ratio of 10.97 and a debt-to-equity ratio of 2.14. The firm has a market cap of $1.03 billion, a P/E ratio of -5.70 and a beta of 2.32. The company’s 50-day simple moving average is $5.47 and its 200-day simple moving average is $5.90.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $9.02 million during the quarter, compared to analyst estimates of $8.43 billion. Enovix had a negative return on equity of 64.28% and a negative net margin of 499.64%.Enovix’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) EPS. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. As a group, equities analysts forecast that Enovix will post -0.79 EPS for the current fiscal year.

Institutional Trading of Enovix

A number of hedge funds and other institutional investors have recently modified their holdings of ENVX. BlackRock Inc. purchased a new position in shares of Enovix during the 2nd quarter worth $100,054,000. Vanguard Group Inc. lifted its position in shares of Enovix by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company’s stock worth $129,831,000 after purchasing an additional 1,747,145 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Enovix in the second quarter valued at approximately $8,689,000. Millennium Management LLC increased its stake in Enovix by 1,038.9% during the 3rd quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock worth $14,724,000 after buying an additional 1,347,200 shares during the period. Finally, Two Sigma Investments LP increased its stake in Enovix by 9,197.1% during the 3rd quarter. Two Sigma Investments LP now owns 1,200,997 shares of the company’s stock worth $11,974,000 after buying an additional 1,188,079 shares during the period. 50.92% of the stock is owned by institutional investors and hedge funds.

Key Enovix News

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: Enovix reported second-quarter adjusted EPS of $(0.13), better than the consensus estimate of $(0.15), while revenue reached $9.02 million, up 20.8% year over year. The results indicate improving sales momentum and a slightly narrower-than-expected loss. Enovix Q2 earnings report
• Positive Sentiment: Cantor Fitzgerald reaffirmed its Overweight rating and assigned a $25 price target, signaling substantial potential upside based on its expectations for Enovix’s battery technology and growth prospects. Cantor Fitzgerald rating update
• Neutral Sentiment: Management continues to highlight potential demand for Enovix batteries in smartphones, wearables and defense applications. These markets could support long-term growth, but the company still must convert customer interest into meaningful commercial production and revenue. Enovix demand outlook
• Negative Sentiment: Third-quarter revenue guidance of $9 million to $10 million is below the roughly $10.3 million analyst consensus, raising concerns about near-term growth. EPS guidance of $(0.17) to $(0.13) also implies that losses will remain significant. Enovix second-quarter results
• Negative Sentiment: Despite the quarterly beat, Enovix remains deeply unprofitable, with a negative net margin of approximately 500% and negative return on equity. Investors appear focused on the company’s ability to scale production and reduce cash losses rather than on the small EPS beat.

About Enovix

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.