Enovix (NASDAQ:ENVX) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Enovix (NASDAQ:ENVX) from a sell rating to a strong sell rating in a report issued on Saturday,Wall Street Zen reports.

Several other research analysts also recently commented on the stock. Northland Securities set a $5.00 target price on shares of Enovix in a report on Tuesday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Enovix in a report on Friday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price target on shares of Enovix in a research report on Thursday, August 13th. TD Cowen upgraded Enovix to a “hold” rating in a research note on Monday, October 5th. Finally, B. Riley Financial cut their price objective on Enovix from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.77.

Enovix Stock Performance

Shares of NASDAQ ENVX opened at $3.15 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 $2.20 and a one year high of $12.40. The business’s 50-day moving average price is $2.95 and its two-hundred day moving average price is $5.16. The company has a market capitalization of $691.27 million, a P/E ratio of -3.89 and a beta of 2.49.

Enovix shares are scheduled 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 closing bell on Thursday, November 12th.

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. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%. The company had revenue of $9.02 million during the quarter, compared to the consensus estimate of $8.43 million. During the same period last year, the business earned ($0.13) EPS. The business’s quarterly revenue was up 20.8% on a year-over-year basis. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. Analysts anticipate that Enovix will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Enovix

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Enovix during the second quarter worth $100,054,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Enovix during the second quarter valued at $8,689,000. Bank of America Corp DE bought a new stake in shares of Enovix in the 2nd quarter worth about $8,356,000. Bank of New York Mellon Corp bought a new stake in shares of Enovix in the 2nd quarter worth about $3,551,000. Finally, Deutsche Bank AG acquired a new stake in shares of Enovix during the 2nd quarter worth about $3,343,000. 50.92% of the stock is currently owned by institutional investors.

Enovix Company Profile

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.