Enovix (NASDAQ:ENVX) Stock Rating Lowered by Wall Street Zen

Enovix (NASDAQ:ENVX) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday, Wall Street Zen reports.

Several other research firms have also issued reports on ENVX. Craig Hallum set a $7.00 price objective on Enovix in a research note on Thursday, August 13th. Canaccord Genuity Group decreased their price target on Enovix from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Bank of America restated a “neutral” rating and issued a $5.00 price target on shares of Enovix in a research report on Monday, August 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Enovix in a research note on Thursday, August 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Enovix in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Enovix presently has an average rating of “Moderate Buy” and a consensus price target of $11.77.

Enovix Price Performance

ENVX stock opened at $2.80 on Friday. The company has a fifty day simple moving average of $3.50 and a two-hundred day simple moving average of $5.19. Enovix has a 52 week low of $2.48 and a 52 week high of $14.21. The company has a quick ratio of 9.37, a current ratio of 9.71 and a debt-to-equity ratio of 2.46. The firm has a market capitalization of $614.46 million, a P/E ratio of -3.46 and a beta of 2.49.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) EPS 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 net margin of 473.89% and a negative return on equity of 64.50%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) EPS. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Analysts anticipate that Enovix will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of Enovix

Several institutional investors and hedge funds have recently modified their holdings of ENVX. Sequoia Financial Advisors LLC bought a new position in Enovix in the second quarter worth approximately $61,000. Engineers Gate Manager LP raised its position in Enovix by 132.4% during the 2nd quarter. Engineers Gate Manager LP now owns 51,281 shares of the company’s stock valued at $311,000 after purchasing an additional 29,214 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Enovix by 99.5% in the 2nd quarter. HB Wealth Management LLC now owns 30,664 shares of the company’s stock worth $186,000 after buying an additional 15,294 shares during the period. AXQ Capital LP lifted its holdings in shares of Enovix by 249.5% in the 2nd quarter. AXQ Capital LP now owns 118,115 shares of the company’s stock worth $717,000 after buying an additional 84,322 shares during the period. Finally, Headlands Technologies LLC grew its position in shares of Enovix by 231.6% during the 2nd quarter. Headlands Technologies LLC now owns 301,781 shares of the company’s stock worth $1,832,000 after buying an additional 210,782 shares in the last quarter. Institutional investors own 50.92% of the company’s stock.

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.