Enovix Corporation (NASDAQ:ENVX) Stock Has Average Price Target of $10.77

Shares of Enovix Corporation (NASDAQ:ENVX) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.77.

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their target price on shares of Enovix from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Northland Securities set a $5.00 price target on shares of Enovix in a research report on Tuesday, October 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price target on shares of Enovix in a research note on Thursday, August 13th. William Blair downgraded shares of Enovix from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Finally, Loop Capital upgraded shares of Enovix to a “strong-buy” rating in a research note on Monday, August 17th.

Enovix Stock Performance

Shares of ENVX stock opened at $2.78 on Friday. The stock’s 50-day moving average is $2.88 and its two-hundred day moving average is $5.01. The company has a debt-to-equity ratio of 2.46, a quick ratio of 9.37 and a current ratio of 9.71. Enovix has a 1 year low of $2.19 and a 1 year high of $9.89. The firm has a market cap of $610.07 million, a price-to-earnings ratio of -3.43 and a beta of 2.34.

Shares of Enovix are going to split on the morning of Friday, November 13th. The 5-4 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Thursday, November 12th.

Enovix (NASDAQ:ENVX) last announced its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (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 analysts’ expectations 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 revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.13) EPS. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Analysts predict that Enovix will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Enovix

Hedge funds have recently made changes to their positions in the business. Vista Capital Partners Inc. purchased a new stake in Enovix during the 3rd quarter valued at approximately $284,000. Fulcrum Asset Management LLP lifted its position in Enovix by 69.8% during the 3rd quarter. Fulcrum Asset Management LLP now owns 45,065 shares of the company’s stock worth $124,000 after acquiring an additional 18,523 shares during the period. Oppenheimer & Co. Inc. lifted its position in Enovix by 58.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 454,446 shares of the company’s stock worth $1,318,000 after acquiring an additional 166,892 shares during the period. Sowell Financial Services LLC grew its stake in shares of Enovix by 144.1% in the 3rd quarter. Sowell Financial Services LLC now owns 128,995 shares of the company’s stock valued at $374,000 after purchasing an additional 76,150 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Enovix by 96.0% in the 3rd quarter. Inspire Investing LLC now owns 219,586 shares of the company’s stock valued at $637,000 after purchasing an additional 107,563 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.

About Enovix

Enovix Corporation is a battery technology company that develops lithium-ion batteries using a silicon-anode architecture. Its approach is designed to increase energy density while maintaining safety and cycle-life characteristics through a three-dimensional cell design and a mechanical constraint system that helps manage silicon expansion during charging.

The company’s products are intended for applications that require compact, high-performance power sources, including consumer electronics, wearable devices, Internet of Things equipment, industrial products, and defense and aerospace systems.