TD Cowen Lowers Enovix (NASDAQ:ENVX) Price Target to $7.00

Enovix (NASDAQ:ENVX) had its price target decreased by investment analysts at TD Cowen from $7.50 to $7.00 in a research report issued on Thursday, Marketbeat reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 14.57% from the stock’s current price.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of Enovix from a “neutral” rating to an “underweight” rating in a research note on Wednesday, May 6th. B. Riley Financial lowered their price objective on shares of Enovix from $17.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Enovix in a research note on Friday, April 10th. Oppenheimer reissued an “outperform” rating on shares of Enovix in a research note on Thursday, February 26th. Finally, Wells Fargo & Company set a $6.00 price objective on shares of Enovix in a research note on Thursday, March 12th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.64.

Enovix Stock Down 3.0%

ENVX stock opened at $6.11 on Thursday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -7.36 and a beta of 2.24. The company has a debt-to-equity ratio of 1.90, a quick ratio of 8.13 and a current ratio of 8.34. Enovix has a one year low of $4.61 and a one year high of $16.49. The company has a 50 day moving average price of $5.82 and a two-hundred day moving average price of $7.10.

Enovix (NASDAQ:ENVX) last released its earnings results on Wednesday, May 13th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. The firm had revenue of $7.60 million during the quarter, compared to analysts’ expectations of $6.95 million. Enovix had a negative net margin of 499.64% and a negative return on equity of 63.25%. Enovix’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) EPS. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. As a group, sell-side analysts expect that Enovix will post -0.81 EPS for the current year.

Institutional Trading of Enovix

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Enovix by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock worth $722,000 after purchasing an additional 4,780 shares during the period. NewEdge Advisors LLC boosted its position in Enovix by 10.4% during the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock worth $193,000 after purchasing an additional 2,481 shares during the period. Goldman Sachs Group Inc. boosted its position in Enovix by 65.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock worth $8,351,000 after purchasing an additional 449,934 shares during the period. Caxton Associates LLP purchased a new stake in Enovix during the 1st quarter worth $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Enovix by 18.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock worth $2,628,000 after purchasing an additional 55,676 shares during the period. 50.92% of the stock is owned by hedge funds and other institutional investors.

Enovix News Roundup

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: Enovix’s Q1 results beat revenue expectations and the company reported a smaller-than-expected loss, while management highlighted revenue growth and strategic progress on the earnings call. Enovix Corp (ENVX) Q1 2026 Earnings Call Highlights: Strong Revenue Growth and Strategic Alignments
• Positive Sentiment: Unusually heavy call option activity suggests some traders are betting on a rebound in Enovix shares. Enovix (NASDAQ:ENVX) Price Target Cut to $21.00 by Analysts at Oppenheimer
• Neutral Sentiment: Oppenheimer, Benchmark, Craig Hallum, and TD Cowen all reduced their price targets on Enovix, but most still kept constructive ratings, signaling lower valuation expectations rather than a full thesis change. Enovix (NASDAQ:ENVX) Given New $15.00 Price Target at Benchmark Enovix (NASDAQ:ENVX) Price Target Lowered to $8.00 at Craig Hallum Enovix (NASDAQ:ENVX) Price Target Cut to $7.00 by Analysts at TD Cowen
• Negative Sentiment: Investors are also focused on Enovix’s widening losses and the uncertain timeline for commercialization, which appeared to weigh on the stock after earnings. Enovix sinks as losses widen; commercialization timeline remains in focus

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.