Enovix (NASDAQ:ENVX) Upgraded at TD Cowen

TD Cowen upgraded shares of Enovix (NASDAQ:ENVX) to a hold rating in a research report report published on Monday morning,Zacks reports.

Several other equities research analysts have also commented on ENVX. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 target price on shares of Enovix in a research report on Thursday, August 13th. Wall Street Zen downgraded shares of Enovix from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. B. Riley Financial reduced their price objective on shares of Enovix from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Loop Capital raised shares of Enovix to a “strong-buy” rating in a report on Monday, August 17th. Finally, Craig Hallum set a $7.00 target price on shares of Enovix in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Enovix has a consensus rating of “Moderate Buy” and an average price target of $11.77.

Enovix Stock Down 5.6%

ENVX opened at $2.55 on Monday. 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 12 month low of $2.48 and a 12 month high of $14.21. The stock has a market capitalization of $559.60 million, a P/E ratio of -3.15 and a beta of 2.49. The business has a 50 day simple moving average of $3.43 and a 200-day simple moving average of $5.14.

Enovix (NASDAQ:ENVX) last announced its quarterly earnings data 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 analyst estimates of $8.43 million. Enovix had a negative return on equity of 64.50% and a negative net margin of 473.89%.Enovix’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) earnings per share. Enovix has set its Q3 2026 guidance at -0.170–0.130 EPS. On average, equities analysts anticipate that Enovix will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Enovix during the 2nd quarter worth $100,054,000. Granahan Investment Management LLC increased its holdings in Enovix by 12.3% during the 4th quarter. Granahan Investment Management LLC now owns 1,964,565 shares of the company’s stock valued at $14,361,000 after acquiring an additional 214,916 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Enovix during the 2nd quarter valued at about $8,689,000. Bank of America Corp DE acquired a new position in Enovix during the second quarter worth about $8,356,000. Finally, Bank of New York Mellon Corp acquired a new position in Enovix during the second quarter worth about $3,551,000. Hedge funds and other 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.