Enovix (NASDAQ:ENVX) Shares Gap Up – Should You Buy?

Enovix Corporation (NASDAQ:ENVX) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.13, but opened at $5.52. Enovix shares last traded at $5.4020, with a volume of 3,188,605 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ENVX shares. Benchmark reduced their price objective on Enovix from $25.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 14th. TD Cowen reissued a “buy” rating on shares of Enovix in a report on Thursday, May 14th. Wall Street Zen raised Enovix from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Oppenheimer cut their price target on Enovix from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Enovix in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Enovix has an average rating of “Moderate Buy” and a consensus target price of $12.64.

Enovix Trading Down 3.7%

The business’s 50-day moving average price is $6.61 and its two-hundred day moving average price is $6.47. The company has a debt-to-equity ratio of 2.14, a current ratio of 10.97 and a quick ratio of 10.65. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -6.26 and a beta of 2.26.

Enovix (NASDAQ:ENVX) last announced its earnings results on Wednesday, May 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $7.60 million for the quarter, compared to analyst estimates of $6.95 million. Enovix had a negative net margin of 499.64% and a negative return on equity of 64.28%. Enovix’s revenue was up 49.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. Equities analysts expect that Enovix Corporation will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Enovix

Several hedge funds have recently made changes to their positions in the business. Harbor Investment Advisory LLC increased its stake in Enovix by 32.5% in the second quarter. Harbor Investment Advisory LLC now owns 18,740 shares of the company’s stock valued at $114,000 after purchasing an additional 4,600 shares during the last quarter. NewEdge Advisors LLC lifted its position in Enovix by 4.7% during the first quarter. NewEdge Advisors LLC now owns 41,460 shares of the company’s stock worth $215,000 after buying an additional 1,853 shares during the period. Edgestream Partners L.P. boosted its stake in Enovix by 12.3% in the 1st quarter. Edgestream Partners L.P. now owns 229,286 shares of the company’s stock worth $1,188,000 after buying an additional 25,159 shares during the last quarter. Amundi grew its holdings in Enovix by 6.3% in the 1st quarter. Amundi now owns 254,160 shares of the company’s stock valued at $1,317,000 after buying an additional 15,126 shares during the period. Finally, California State Teachers Retirement System grew its holdings in Enovix by 49.8% in the 1st quarter. California State Teachers Retirement System now owns 253,039 shares of the company’s stock valued at $1,311,000 after buying an additional 84,134 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Company Profile

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.