Zacks: Analysts Expect Enovix Co. (NASDAQ:ENVX) to Announce -$0.13 Earnings Per Share

Wall Street brokerages expect Enovix Co. (NASDAQ:ENVXGet Rating) to announce earnings per share (EPS) of ($0.13) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Enovix’s earnings, with estimates ranging from ($0.14) to ($0.12). The business is expected to report its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Enovix will report full year earnings of ($0.63) per share for the current fiscal year, with EPS estimates ranging from ($0.72) to ($0.54). For the next financial year, analysts forecast that the firm will post earnings of ($0.60) per share, with EPS estimates ranging from ($0.66) to ($0.53). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Enovix.

Enovix (NASDAQ:ENVXGet Rating) last issued its earnings results on Thursday, March 3rd. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.44).

ENVX has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Enovix from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Piper Sandler lowered their target price on shares of Enovix from $39.00 to $35.00 in a research note on Tuesday, January 11th. Finally, Craig Hallum lowered their target price on shares of Enovix from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, March 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $29.33.

Shares of NASDAQ:ENVX opened at $9.02 on Tuesday. The business’s fifty day simple moving average is $12.59. Enovix has a 52 week low of $8.76 and a 52 week high of $39.48.

In other Enovix news, Director J Daniel Mccranie bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 8th. The stock was bought at an average cost of $14.57 per share, with a total value of $291,400.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Harrold J. Rust purchased 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were purchased at an average price of $14.50 per share, for a total transaction of $50,750.00. The disclosure for this purchase can be found here.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vista Capital Partners Inc. purchased a new position in Enovix in the first quarter valued at about $702,000. Essex Investment Management Co. LLC lifted its stake in shares of Enovix by 5.7% during the 1st quarter. Essex Investment Management Co. LLC now owns 173,225 shares of the company’s stock valued at $2,472,000 after buying an additional 9,281 shares in the last quarter. Swiss National Bank lifted its stake in shares of Enovix by 61.1% during the 1st quarter. Swiss National Bank now owns 154,500 shares of the company’s stock valued at $2,205,000 after buying an additional 58,600 shares in the last quarter. Fort Sheridan Advisors LLC lifted its stake in shares of Enovix by 20.3% during the 1st quarter. Fort Sheridan Advisors LLC now owns 13,909 shares of the company’s stock valued at $198,000 after buying an additional 2,348 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Enovix by 63.6% during the 1st quarter. Teacher Retirement System of Texas now owns 13,542 shares of the company’s stock valued at $193,000 after buying an additional 5,265 shares in the last quarter. Hedge funds and other institutional investors own 56.82% of the company’s stock.

Enovix Company Profile (Get Rating)

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.

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