Enovix Corporation (NASDAQ:ENVX) Stock Has Average Price Target of $11.77

Shares of Enovix Corporation (NASDAQ:ENVX) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $10.77.

ENVX has been the topic of a number of recent research reports. Bank of America restated a “neutral” rating and set a $5.00 price target on shares of Enovix in a report on Monday, August 17th. Northland Securities set a $5.00 price objective on shares of Enovix in a research note on Tuesday. Craig Hallum set a $7.00 price objective on shares of Enovix in a report on Thursday, August 13th. B. Riley Financial decreased their price objective on shares of Enovix from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Finally, Loop Capital raised shares of Enovix to a “strong-buy” rating in a research report on Monday, August 17th.

Institutional Trading of Enovix

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Enovix in the 2nd quarter valued at approximately $100,054,000. Bank of America Corp DE acquired a new stake in Enovix in the 2nd quarter worth approximately $8,356,000. Perennial Investment Advisors LLC acquired a new stake in Enovix in the 2nd quarter worth approximately $2,805,000. Bank of New York Mellon Corp bought a new stake in Enovix during the second quarter worth approximately $3,551,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Enovix during the second quarter worth approximately $8,689,000. Institutional investors own 50.92% of the company’s stock.

Enovix Trading Up 9.8%

NASDAQ:ENVX opened at $2.68 on Tuesday. The company has a market capitalization of $588.12 million, a P/E ratio of -3.31 and a beta of 2.49. The stock’s 50 day moving average price is $3.22 and its 200 day moving average price is $5.03. The company has a debt-to-equity ratio of 2.46, a quick ratio of 9.37 and a current ratio of 9.71. Enovix has a 52 week low of $2.35 and a 52 week high of $13.64.

Enovix (NASDAQ:ENVX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $9.02 million during the quarter, compared to analysts’ expectations of $8.43 million. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. On average, research analysts forecast that Enovix will post -0.79 EPS for the current fiscal year.

About Enovix

Enovix Corporation is a battery technology company developing lithium-ion batteries that use a silicon-based anode and a three-dimensional cell architecture. The company’s design is intended to increase energy density while incorporating structural features designed to improve safety and cycle life compared with conventional lithium-ion batteries.

Enovix is focused initially on batteries for consumer electronics, including smartphones, wearable devices and other mobile products. It has also identified applications in industrial, medical, aerospace, defense and electric vehicle markets.