Canaccord Genuity Group Issues Pessimistic Forecast for Enovix (NASDAQ:ENVX) Stock Price

Enovix (NASDAQ:ENVX) had its price target decreased by investment analysts at Canaccord Genuity Group from $21.00 to $15.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 184.63% from the company’s previous close.

ENVX has been the subject of several other reports. Craig Hallum reduced their target price on Enovix from $16.00 to $10.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price objective on Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Oppenheimer reaffirmed an “outperform” rating on shares of Enovix in a research report on Thursday. Northland Securities set a $16.00 target price on Enovix in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Enovix in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Enovix presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.65.

Enovix Trading Down 11.4%

Shares of ENVX stock opened at $5.27 on Thursday. 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 company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -6.84 and a beta of 2.13. Enovix has a 52-week low of $5.24 and a 52-week high of $16.49. The company has a 50-day simple moving average of $7.10 and a two-hundred day simple moving average of $8.90.

Institutional Investors Weigh In On Enovix

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Enovix by 10.9% in the 4th quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company’s stock valued at $129,831,000 after acquiring an additional 1,747,145 shares during the period. Electron Capital Partners LLC increased its stake in shares of Enovix by 13.8% in the third quarter. Electron Capital Partners LLC now owns 8,038,396 shares of the company’s stock worth $80,143,000 after purchasing an additional 972,103 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Enovix by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 4,413,492 shares of the company’s stock valued at $32,268,000 after buying an additional 253,906 shares in the last quarter. State Street Corp boosted its holdings in Enovix by 2.0% in the 4th quarter. State Street Corp now owns 3,959,029 shares of the company’s stock worth $28,941,000 after buying an additional 77,079 shares during the period. Finally, Royal Bank of Canada grew its stake in Enovix by 18.0% in the 4th quarter. Royal Bank of Canada now owns 2,525,268 shares of the company’s stock valued at $18,461,000 after buying an additional 385,983 shares in the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Key Headlines Impacting Enovix

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: Q4 results beat expectations: revenue of ~$11.3M (+~16% YoY) topped estimates and EPS/loss was slightly better than forecast; gross profit and operating-loss improvement were highlighted on the call — a fundamental bright spot supporting longer‑term growth potential. SA Q4 Presentation
• Positive Sentiment: Multiple outlets noted the revenue and EPS beats and operational improvement (higher gross profit, narrower operating loss), which help the growth narrative even as profitability remains distant. Yahoo Finance: Q4 Report
• Neutral Sentiment: Unusual options activity: a large block of call buying (≈31,896 calls) indicates speculative/leveraged interest that may amplify intraday moves but doesn’t change fundamentals. AAII Options Note
• Neutral Sentiment: Some analysts lowered price targets but kept constructive ratings (e.g., Canaccord trimmed its PT but remains “Buy”), which mutes upside while signaling continued long‑term conviction from parts of the sell‑side. Benzinga: Canaccord Note
• Negative Sentiment: Near‑term guidance disappointed: Q1 FY2026 revenue guidance ($6.5M–$7.5M) came in well below consensus (~$8.8M), a key proximate reason for selling pressure as it implies slower near‑term growth. Company Press Release / Deck
• Negative Sentiment: Analyst downgrades/target cuts: TD Cowen cut its target sharply and moved to “Hold,” and other firms trimmed targets — increasing near‑term downside risk as sell‑side expectations are reset. Benzinga: TD Cowen Note
• Negative Sentiment: New risk disclosure highlights rising geopolitical/trade exposure (U.S.–China tensions) that could pressure supply chains and margins — a fresh governance/operational risk investors must price in. TipRanks: Risk Disclosure
• Negative Sentiment: Balance‑sheet and liquidity signals are concerning to some investors: cash fell year‑over‑year and total liabilities rose materially; coupled with insider sales called out in reporting, that has likely amplified selling. Quiver Quant: Financials

About Enovix

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.