Enovix (NASDAQ:ENVX) Stock Price Up 12.3% – What’s Next?

Enovix Corporation (NASDAQ:ENVX) rose 12.3% during trading on Tuesday . The stock traded as high as $7.64 and last traded at $7.50. Approximately 3,056,388 shares traded hands during trading, a decline of 52% from the average daily volume of 6,404,835 shares. The stock had previously closed at $6.68.

Wall Street Analysts Forecast Growth

ENVX has been the subject of several analyst reports. B. Riley Financial lowered their price target on shares of Enovix from $17.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Oppenheimer lowered their target price on shares of Enovix from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Benchmark lowered their target price on shares of Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Canaccord Genuity Group lowered their target price on shares of Enovix from $21.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Enovix in a report on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.64.

Enovix Stock Performance

The stock has a market cap of $1.58 billion, a PE ratio of -8.71 and a beta of 2.24. The company has a debt-to-equity ratio of 2.14, a quick ratio of 10.65 and a current ratio of 10.97. The firm’s 50-day moving average is $5.98 and its 200 day moving average is $6.84.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $7.60 million during the quarter, compared to the consensus estimate of $6.95 million. Enovix had a negative net margin of 499.64% and a negative return on equity of 64.28%. Enovix’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) EPS. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. As a group, research analysts anticipate that Enovix Corporation will post -0.81 EPS for the current year.

Hedge Funds Weigh In On Enovix

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitlin John LLC acquired a new position in shares of Enovix during the 3rd quarter worth $27,000. Parallel Advisors LLC grew its stake in Enovix by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,926 shares of the company’s stock valued at $39,000 after acquiring an additional 1,342 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Enovix during the 4th quarter worth about $30,000. CWM LLC boosted its stake in shares of Enovix by 95.4% during the 4th quarter. CWM LLC now owns 6,081 shares of the company’s stock worth $44,000 after purchasing an additional 2,969 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Enovix during the 3rd quarter worth about $80,000. 50.92% of the stock is owned by institutional investors and hedge funds.

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.