Enovix’s (ENVX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Enovix (NASDAQ:ENVX) in a report released on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has a $25.00 target price on the stock.

ENVX has been the subject of several other reports. TD Cowen reduced their price objective on Enovix from $7.00 to $5.50 and set a “hold” rating for the company in a report on Friday, July 24th. Benchmark decreased their target price on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Craig Hallum dropped their price target on Enovix from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Oppenheimer cut their price target on Enovix from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.86.

Enovix Price Performance

Shares of NASDAQ ENVX opened at $4.39 on Thursday. Enovix has a twelve month low of $3.67 and a twelve month high of $14.21. The stock’s 50 day moving average price is $5.33 and its 200-day moving average price is $5.87. The company has a market capitalization of $957.68 million, a PE ratio of -5.42 and a beta of 2.32. The company has a quick ratio of 10.65, a current ratio of 9.71 and a debt-to-equity ratio of 2.46.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $9.02 million during the quarter, compared to the consensus estimate of $8.43 million. During the same period last year, the business posted ($0.13) earnings per share. Enovix’s revenue was up 20.8% on a year-over-year basis. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. On average, equities analysts anticipate that Enovix will post -0.78 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Enovix during the 2nd quarter valued at about $100,054,000. Vanguard Group Inc. boosted its position in shares of Enovix by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company’s stock valued at $129,831,000 after acquiring an additional 1,747,145 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enovix in the second quarter valued at approximately $8,689,000. Millennium Management LLC grew its stake in Enovix by 1,038.9% during the third quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock valued at $14,724,000 after acquiring an additional 1,347,200 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Enovix by 9,197.1% during the third quarter. Two Sigma Investments LP now owns 1,200,997 shares of the company’s stock valued at $11,974,000 after acquiring an additional 1,188,079 shares in the last quarter. Institutional investors own 50.92% of the company’s stock.

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.