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

Enovix (NASDAQ:ENVX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also commented on ENVX. Cowen restated a “hold” rating on shares of Enovix in a research report on Tuesday, July 8th. Benchmark increased their target price on shares of Enovix from $15.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Craig Hallum reiterated a “buy” rating and issued a $15.00 target price (up previously from $12.00) on shares of Enovix in a research report on Tuesday, July 8th. TD Cowen upgraded shares of Enovix to a “hold” rating and increased their target price for the company from $7.00 to $15.00 in a research report on Monday, July 7th. Finally, Canaccord Genuity Group increased their target price on shares of Enovix from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.00.

Enovix Stock Up 1.9%

Enovix stock opened at $9.19 on Friday. The company has a 50-day simple moving average of $11.90 and a 200-day simple moving average of $9.18. The firm has a market capitalization of $1.81 billion, a P/E ratio of -10.94 and a beta of 2.08. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.11 and a current ratio of 4.37. Enovix has a one year low of $5.27 and a one year high of $16.49.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. The business had revenue of $7.50 million during the quarter, compared to analyst estimates of $5.48 million. Enovix had a negative net margin of 481.35% and a negative return on equity of 73.88%. The company’s quarterly revenue was up 98.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Enovix has set its Q3 2025 guidance at -0.180–0.140 EPS. As a group, equities analysts expect that Enovix will post -1.01 earnings per share for the current year.

Enovix announced that its Board of Directors has authorized a share buyback plan on Wednesday, July 2nd that allows the company to repurchase $60.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Enovix

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in Enovix by 1.1% in the 2nd quarter. Franklin Resources Inc. now owns 96,239 shares of the company’s stock valued at $995,000 after acquiring an additional 1,093 shares during the last quarter. tru Independence LLC lifted its holdings in Enovix by 0.4% in the 2nd quarter. tru Independence LLC now owns 295,690 shares of the company’s stock valued at $3,057,000 after acquiring an additional 1,155 shares during the last quarter. Intellectus Partners LLC lifted its holdings in Enovix by 1.2% in the 2nd quarter. Intellectus Partners LLC now owns 103,522 shares of the company’s stock valued at $1,070,000 after acquiring an additional 1,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings 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 acquiring an additional 1,336 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Enovix by 5.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 24,606 shares of the company’s stock valued at $254,000 after acquiring an additional 1,336 shares during the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

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.