Enovix (NASDAQ:ENVX) Raised to “Hold” at TD Cowen

Enovix (NASDAQ:ENVX) was upgraded by stock analysts at TD Cowen to a “hold” rating in a research note issued on Monday, Zacks reports.

ENVX has been the subject of several other reports. Canaccord Genuity Group reduced their target price on Enovix from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price target on shares of Enovix in a research note on Thursday, August 13th. Wall Street Zen downgraded Enovix from a “sell” rating to a “strong sell” rating in a report on Saturday. Bank of America reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Enovix in a research report on Monday, August 17th. Finally, Craig Hallum set a $7.00 price objective on shares of Enovix in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Enovix has an average rating of “Moderate Buy” and an average price target of $11.77.

Enovix Trading Up 1.1%

Shares of NASDAQ:ENVX opened at $2.70 on Monday. Enovix has a 52-week low of $2.48 and a 52-week high of $14.21. The company has a debt-to-equity ratio of 2.46, a quick ratio of 9.37 and a current ratio of 9.71. The company has a market capitalization of $592.51 million, a P/E ratio of -3.33 and a beta of 2.49. The company has a 50-day simple moving average of $3.45 and a 200 day simple moving average of $5.16.

Enovix (NASDAQ:ENVX) last announced 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 firm had revenue of $9.02 million for 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 revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Sell-side analysts forecast that Enovix will post -0.8 earnings per share for the current year.

Institutional Investors Weigh In On Enovix

A number of institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in Enovix during the fourth quarter worth about $30,000. Calamos Advisors LLC bought a new stake in Enovix in the 1st quarter valued at about $60,000. Sequoia Financial Advisors LLC bought a new stake in Enovix in the 2nd quarter valued at about $61,000. Gateway Wealth Partners LLC acquired a new position in shares of Enovix during the 1st quarter worth approximately $68,000. Finally, Wealthfront Advisers LLC grew its position in shares of Enovix by 27.8% during the 1st quarter. Wealthfront Advisers LLC now owns 13,800 shares of the company’s stock worth $71,000 after purchasing an additional 3,001 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.