Enovix (NASDAQ:ENVX) Posts Earnings Results, Beats Expectations By $0.03 EPS

Enovix (NASDAQ:ENVX) released its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03, FiscalAI reports. Enovix had a negative return on equity of 61.78% and a negative net margin of 525.93%. Enovix updated its Q1 2026 guidance to -0.180–0.140 EPS.

Enovix Stock Performance

Enovix stock traded up $0.04 during trading hours on Wednesday, reaching $6.15. 7,927,941 shares of the stock were exchanged, compared to its average volume of 6,375,479. Enovix has a 52-week low of $5.27 and a 52-week high of $16.49. The stock has a market cap of $1.33 billion, a P/E ratio of -7.59 and a beta of 2.13. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.47 and a current ratio of 9.72. The firm’s 50 day moving average is $7.21 and its 200 day moving average is $8.98.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Northland Securities set a $16.00 price target on shares of Enovix in a research note on Monday, November 17th. Canaccord Genuity Group lowered their price objective on shares of Enovix from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Cantor Fitzgerald reduced their target price on shares of Enovix from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, Oppenheimer set a $24.00 target price on shares of Enovix in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Enovix currently has a consensus rating of “Hold” and a consensus target price of $17.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its position in Enovix by 1,038.9% in the third quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock valued at $14,724,000 after purchasing an additional 1,347,200 shares during the period. Two Sigma Investments LP increased its position in Enovix by 9,197.1% during the 3rd quarter. Two Sigma Investments LP now owns 1,200,997 shares of the company’s stock worth $11,974,000 after purchasing an additional 1,188,079 shares during the period. Barclays PLC raised its stake in shares of Enovix by 263.1% during the 4th quarter. Barclays PLC now owns 1,551,941 shares of the company’s stock worth $11,345,000 after buying an additional 1,124,480 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in shares of Enovix by 13.8% in the 3rd quarter. Electron Capital Partners LLC now owns 8,038,396 shares of the company’s stock valued at $80,143,000 after buying an additional 972,103 shares during the period. Finally, Fred Alger Management LLC boosted its stake in shares of Enovix by 58.9% in the fourth quarter. Fred Alger Management LLC now owns 2,292,315 shares of the company’s stock valued at $16,757,000 after buying an additional 849,329 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.

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.