Enovix (NASDAQ:ENVX) Stock Rating Lowered by Wall Street Zen

Enovix (NASDAQ:ENVX) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

A number of other research firms have also recently issued reports on ENVX. Loop Capital upgraded shares of Enovix to a “strong-buy” rating in a research report on Monday, August 17th. JPMorgan Chase & Co. lowered shares of Enovix from a “neutral” rating to an “underweight” rating in a research report on Wednesday, May 6th. TD Cowen decreased their target price on shares of Enovix from $7.00 to $5.50 and set a “hold” rating on the stock in a research note on Friday, July 24th. Bank of America reiterated a “neutral” rating and set a $5.00 price target on shares of Enovix in a report on Monday, August 17th. Finally, Benchmark dropped their price target on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.77.

Enovix Price Performance

Shares of ENVX stock opened at $3.38 on Friday. The business has a fifty day simple moving average of $4.99 and a 200 day simple moving average of $5.73. The company has a market cap of $741.74 million, a P/E ratio of -4.17 and a beta of 2.32. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. Enovix has a twelve month low of $3.06 and a twelve month high of $14.21.

Enovix (NASDAQ:ENVX) last released 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 for the quarter, compared to analysts’ expectations of $8.43 million. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%.The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. On average, sell-side analysts forecast that Enovix will post -0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ENVX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Enovix by 5.1% during the 1st 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 period. NewEdge Advisors LLC raised its stake in shares of Enovix by 10.4% during the first quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock valued at $193,000 after acquiring an additional 2,481 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Enovix by 65.4% during the first 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 during the first quarter worth $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Enovix by 18.4% during the first 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 period. Institutional investors own 50.92% of the company’s stock.

Enovix Company Profile

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.