Enovix (NASDAQ:ENVX) Cut to “Strong Sell” at Wall Street Zen

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

Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Enovix in a research report on Thursday, August 13th. Canaccord Genuity Group decreased their target price on shares of Enovix from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 14th. William Blair lowered shares of Enovix from an “outperform” rating to a “market perform” rating in a research note on Monday, August 17th. JPMorgan Chase & Co. downgraded shares of Enovix from a “neutral” rating to an “underweight” rating in a report on Wednesday, May 6th. Finally, Loop Capital raised shares of Enovix to a “strong-buy” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Enovix has a consensus rating of “Moderate Buy” and an average price target of $11.77.

Enovix Stock Performance

Shares of NASDAQ ENVX opened at $3.27 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 one year low of $3.06 and a one year high of $14.21. The business’s 50-day moving average price is $4.92 and its two-hundred day moving average price is $5.71. The company has a market capitalization of $717.60 million, a P/E ratio of -4.04 and a beta of 2.32.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The company 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 business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the business earned ($0.13) EPS. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Analysts anticipate that Enovix will post -0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ENVX. BlackRock Inc. acquired a new position in shares of Enovix during the 2nd quarter worth about $100,054,000. Vanguard Group Inc. grew its holdings in Enovix by 10.9% in the 4th quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company’s stock valued at $129,831,000 after buying an additional 1,747,145 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Enovix in the 2nd quarter worth approximately $8,689,000. Bank of America Corp DE bought a new position in Enovix in the 2nd quarter worth approximately $8,356,000. Finally, Millennium Management LLC lifted its holdings in shares of Enovix by 1,038.9% during the third quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock worth $14,724,000 after buying an additional 1,347,200 shares during the last quarter. 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.