Enovix (NASDAQ:ENVX) Shares Up 7.5% – Time to Buy?

Enovix Corporation (NASDAQ:ENVX)’s share price rose 7.5% during trading on Friday . The stock traded as high as $8.50 and last traded at $8.4070. Approximately 5,518,255 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 6,171,681 shares. The stock had previously closed at $7.82.

Analyst Ratings Changes

ENVX has been the topic of several recent research reports. Cantor Fitzgerald decreased their price objective on Enovix from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. dropped their target price on Enovix from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Northland Securities set a $16.00 target price on Enovix in a research report on Monday, November 17th. Canaccord Genuity Group lowered their price target on Enovix from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, Oppenheimer set a $24.00 price objective on Enovix in a research note on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Enovix currently has a consensus rating of “Hold” and an average target price of $17.50.

Enovix Stock Performance

The stock’s 50 day simple moving average is $8.06 and its two-hundred day simple moving average is $10.29. The company has a market capitalization of $1.77 billion, a P/E ratio of -10.13 and a beta of 2.13. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.72 and a quick ratio of 9.47.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. The firm had revenue of $7.99 million during the quarter, compared to analysts’ expectations of $7.94 million. Enovix had a negative net margin of 525.93% and a negative return on equity of 61.78%. Enovix’s revenue was up 86.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.17) EPS. Enovix has set its Q4 2025 guidance at -0.200–0.160 EPS. As a group, research analysts expect that Enovix Corporation will post -1.01 earnings per share for the current year.

Institutional Trading of Enovix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Enovix by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock worth $722,000 after buying an additional 4,780 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Enovix by 10.4% during the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock worth $193,000 after acquiring an additional 2,481 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Enovix by 65.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock valued at $8,351,000 after acquiring an additional 449,934 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Enovix in the 1st quarter valued at $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Enovix by 18.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock worth $2,628,000 after purchasing an additional 55,676 shares during the last quarter. 50.92% of the stock is owned by institutional investors.

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.