Enovix (NASDAQ:ENVX) Stock Gets Downgrade from Craig Hallum

Enovix (NASDAQ:ENVX) was downgraded by equities research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research note issued on Friday, Briefing.com reports. They presently have a $2.00 price target on the stock. Craig Hallum‘s price objective indicates a potential upside of 11.11% from the stock’s previous close.

A number of other research analysts have also recently weighed in on ENVX. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 target price on shares of Enovix in a research note on Thursday, August 13th. TD Cowen upgraded Enovix to a “hold” rating in a research note on Monday, October 5th. Northland Securities set a $4.00 price target on Enovix in a research note on Tuesday, October 13th. William Blair cut Enovix from an “outperform” rating to a “market perform” rating in a report on Monday, August 17th. Finally, B. Riley Financial lowered their price objective on Enovix from $8.00 to $7.20 and set a “buy” rating on the stock in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.32.

Enovix Price Performance

Shares of NASDAQ:ENVX opened at $1.80 on Friday. The company has a debt-to-equity ratio of 2.46, a current ratio of 9.71 and a quick ratio of 9.37. Enovix has a 1-year low of $1.78 and a 1-year high of $9.19. The company has a market capitalization of $395.01 million, a P/E ratio of -2.22 and a beta of 2.34. The firm’s 50 day simple moving average is $2.82 and its two-hundred day simple moving average is $4.93.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Friday, November 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The firm had revenue of $11.04 million during the quarter. Enovix had a negative net margin of 473.89% and a negative return on equity of 64.50%. Research analysts expect that Enovix will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Enovix

Hedge funds have recently modified their holdings of the stock. Sax Wealth Advisors LLC bought a new position in shares of Enovix during the third quarter worth $29,000. Calamos Advisors LLC bought a new stake in Enovix in the 1st quarter valued at $60,000. Sequoia Financial Advisors LLC bought a new stake in Enovix in the 2nd quarter valued at $61,000. Gateway Wealth Partners LLC bought a new stake in Enovix in the 1st quarter valued at $68,000. Finally, Wealthfront Advisers LLC lifted its stake in Enovix by 27.8% in the 1st quarter. Wealthfront Advisers LLC now owns 13,800 shares of the company’s stock worth $71,000 after purchasing an additional 3,001 shares in the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Trending Headlines about Enovix

Investors following ENVX have been watching these headlines:

• Positive Sentiment: Q3 2026 revenue rose 38% year over year to about $11 million, with drone and defense customers driving growth. Enovix forecast 2027 revenue of $65 million–$85 million, supported by a reported $37 million backlog, and plans to double capacity at its South Korean drone-battery facility. Article
• Positive Sentiment: The company reported $512.2 million in cash and related holdings at quarter-end and retired $128 million face value of convertible notes for about $81.4 million, strengthening its balance-sheet position. Article
• Negative Sentiment: Enovix remains loss-making, and its Q4 revenue forecast of $9 million–$10 million is below Q3’s reported revenue, raising near-term execution concerns. Article

Enovix Company Profile

Enovix Corporation develops lithium-ion batteries using a silicon-based anode and a proprietary three-dimensional cell architecture. Its design is intended to increase energy density while addressing safety and performance requirements in compact devices. The company’s batteries are designed for applications including smartphones, wearable devices, laptops, augmented- and virtual-reality products, and other portable electronics. Enovix also targets markets such as defense and industrial technology.