Enovix (NASDAQ:ENVX) Issues Earnings Results, Beats Estimates By $0.02 EPS

Enovix (NASDAQ:ENVX) released its earnings results on Wednesday. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02, FiscalAI reports. Enovix had a negative return on equity of 64.28% and a negative net margin of 499.64%.The business had revenue of $9.02 million for the quarter, compared to analysts’ expectations of $8.43 million. Enovix updated its Q3 2026 guidance to -0.170–0.130 EPS.

Enovix Trading Down 2.1%

NASDAQ:ENVX traded down $0.10 during trading hours on Wednesday, reaching $4.73. The company’s stock had a trading volume of 8,815,678 shares, compared to its average volume of 6,373,630. 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 has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.70 and a beta of 2.32. The firm has a 50-day simple moving average of $5.54 and a 200-day simple moving average of $5.92. Enovix has a 1 year low of $3.67 and a 1 year high of $14.21.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC purchased a new stake in Enovix during the 4th quarter valued at $95,000. CIBC Bancorp USA Inc. purchased a new position in shares of Enovix in the third quarter valued at about $175,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Enovix in the third quarter valued at about $100,000. Focus Partners Wealth bought a new position in shares of Enovix during the third quarter valued at about $170,000. Finally, Equitable Holdings Inc. raised its stake in shares of Enovix by 10.9% during the third quarter. Equitable Holdings Inc. now owns 13,700 shares of the company’s stock valued at $137,000 after acquiring an additional 1,342 shares during the last quarter. 50.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ENVX. TD Cowen dropped their price target on Enovix from $7.00 to $5.50 and set a “hold” rating for the company in a research note on Friday, July 24th. Wall Street Zen upgraded Enovix from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Benchmark decreased their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Craig Hallum dropped their target price on Enovix from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enovix in a research note on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

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.