Enovix FY2025 EPS Estimate Reduced by Cantor Fitzgerald

Enovix Co. (NASDAQ:ENVX) – Cantor Fitzgerald cut their FY2025 earnings per share estimates for Enovix in a report issued on Thursday, March 27th. Cantor Fitzgerald analyst D. Soderberg now forecasts that the company will post earnings of ($0.83) per share for the year, down from their prior forecast of ($0.82). Cantor Fitzgerald currently has a “Overweight” rating and a $30.00 price target on the stock. The consensus estimate for Enovix’s current full-year earnings is ($1.01) per share.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The firm had revenue of $9.72 million during the quarter, compared to analysts’ expectations of $8.77 million.

Separately, Craig Hallum decreased their price target on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.30.

Enovix Price Performance

Shares of NASDAQ:ENVX opened at $7.48 on Monday. The stock has a market cap of $1.43 billion, a PE ratio of -5.16 and a beta of 1.93. Enovix has a one year low of $5.70 and a one year high of $18.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The business’s fifty day moving average price is $9.92 and its two-hundred day moving average price is $10.05.

Insiders Place Their Bets

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $9.35, for a total value of $2,805,000.00. Following the transaction, the chief executive officer now owns 2,045,301 shares of the company’s stock, valued at $19,123,564.35. This trade represents a 12.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enovix

A number of hedge funds have recently added to or reduced their stakes in ENVX. Fifth Third Bancorp boosted its position in Enovix by 66.7% during the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after acquiring an additional 1,000 shares during the period. Hodges Capital Management Inc. boosted its holdings in shares of Enovix by 1.8% in the fourth quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company’s stock worth $625,000 after buying an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC grew its position in Enovix by 6.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company’s stock worth $228,000 after purchasing an additional 1,214 shares in the last quarter. Victory Capital Management Inc. boosted its position in Enovix by 6.8% during the 4th quarter. Victory Capital Management Inc. now owns 19,695 shares of the company’s stock worth $214,000 after acquiring an additional 1,257 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Enovix by 6.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company’s stock valued at $233,000 after buying an additional 1,336 shares during the period. 50.92% of the stock is currently owned by institutional investors.

About Enovix

Enovix Corporation designs develops and manufactures silicon-anode lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.