Enovix (NASDAQ:ENVX) Sets New 52-Week Low on Analyst Downgrade

Enovix Corporation (NASDAQ:ENVX)’s share price hit a new 52-week low during mid-day trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $21.00 to $15.00. Canaccord Genuity Group currently has a buy rating on the stock. Enovix traded as low as $5.25 and last traded at $5.2940, with a volume of 6870811 shares traded. The stock had previously closed at $5.95.

Other research analysts have also recently issued research reports about the stock. Northland Securities set a $16.00 price target on shares of Enovix in a report on Monday, November 17th. Cantor Fitzgerald reduced their target price on Enovix from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. dropped their price target on Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enovix in a report on Monday, December 29th. Finally, Oppenheimer restated an “outperform” rating on shares of Enovix in a research note on Thursday. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Enovix presently has an average rating of “Moderate Buy” and an average target price of $15.65.

Key Stories 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

Hedge Funds Weigh In On Enovix

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Enovix by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company’s stock valued at $129,831,000 after buying an additional 1,747,145 shares in the last quarter. Millennium Management LLC increased its holdings in Enovix by 1,038.9% in the 3rd quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock worth $14,724,000 after acquiring an additional 1,347,200 shares in the last quarter. Two Sigma Investments LP increased its holdings in Enovix by 9,197.1% in the 3rd quarter. Two Sigma Investments LP now owns 1,200,997 shares of the company’s stock worth $11,974,000 after acquiring an additional 1,188,079 shares in the last quarter. Barclays PLC raised its position in Enovix by 263.1% during the fourth quarter. Barclays PLC now owns 1,551,941 shares of the company’s stock worth $11,345,000 after acquiring an additional 1,124,480 shares during the period. Finally, Electron Capital Partners LLC grew its position 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 valued at $80,143,000 after purchasing an additional 972,103 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

Enovix Stock Down 11.4%

The firm has a market cap of $1.14 billion, a PE ratio of -6.84 and a beta of 2.13. The business’s 50 day moving average price is $7.10 and its 200 day moving average price is $8.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.72 and a quick ratio of 9.47.

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.