Enovix (NASDAQ:ENVX) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Enovix (NASDAQ:ENVX) from a strong sell rating to a sell rating in a research report released on Sunday morning,Wall Street Zen reports.

A number of other research firms have also recently commented on ENVX. Craig Hallum set a $7.00 price target on Enovix in a report on Thursday, August 13th. B. Riley Financial reduced their price objective on shares of Enovix from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Loop Capital raised shares of Enovix to a “strong-buy” rating in a research report on Monday, August 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of Enovix in a research report on Thursday, August 13th. Finally, Bank of America reiterated a “neutral” rating and set a $5.00 target price on shares of Enovix in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Enovix has a consensus rating of “Moderate Buy” and a consensus target price of $11.77.

Enovix Price Performance

NASDAQ ENVX opened at $2.46 on Friday. The company has a 50 day moving average of $3.36 and a 200-day moving average of $5.11. Enovix has a 1-year low of $2.40 and a 1-year high of $14.21. The company has a current ratio of 9.71, a quick ratio of 9.37 and a debt-to-equity ratio of 2.46. The company has a market cap of $539.85 million, a price-to-earnings ratio of -3.04 and a beta of 2.49.

Enovix (NASDAQ:ENVX) last released its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $9.02 million during the quarter, compared to the consensus estimate of $8.43 million. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.13) EPS. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. On average, equities research analysts expect that Enovix will post -0.80 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enovix

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Enovix during the 4th quarter valued at approximately $30,000. Sequoia Financial Advisors LLC bought a new stake in shares of Enovix during the 2nd quarter valued at $61,000. Calamos Advisors LLC bought a new stake in shares of Enovix during the first quarter valued at about $60,000. Allworth Financial LP bought a new stake in Enovix during the 2nd quarter worth approximately $71,000. Finally, Gateway Wealth Partners LLC purchased a new stake in shares of Enovix in the first quarter worth $68,000. 50.92% of the stock is owned by institutional investors.

Enovix Company Profile

Enovix Corporation is a battery technology company developing lithium-ion batteries that use a silicon-based anode and a three-dimensional cell architecture. The company’s design is intended to increase energy density while incorporating structural features designed to improve safety and cycle life compared with conventional lithium-ion batteries.

Enovix is focused initially on batteries for consumer electronics, including smartphones, wearable devices and other mobile products. It has also identified applications in industrial, medical, aerospace, defense and electric vehicle markets.