Enovix (NASDAQ:ENVX) Given New $5.50 Price Target at TD Cowen

Enovix (NASDAQ:ENVX) had its price target reduced by TD Cowen from $7.00 to $5.50 in a research note released on Friday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other research firms have also issued reports on ENVX. Weiss Ratings restated a “sell (e+)” rating on shares of Enovix in a report on Wednesday, July 8th. Wall Street Zen raised Enovix from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Oppenheimer dropped their target price on Enovix from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. JPMorgan Chase & Co. downgraded Enovix from a “neutral” rating to an “underweight” rating in a research note on Wednesday, May 6th. Finally, Craig Hallum decreased their target price on Enovix from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Enovix has an average rating of “Hold” and an average target price of $12.50.

Enovix Trading Down 9.0%

Shares of ENVX stock opened at $3.95 on Friday. The stock has a 50-day simple moving average of $6.21 and a 200 day simple moving average of $6.25. The stock has a market capitalization of $861.69 million, a P/E ratio of -4.76 and a beta of 2.26. Enovix has a fifty-two week low of $3.90 and a fifty-two week high of $15.40. The company has a quick ratio of 10.65, a current ratio of 10.97 and a debt-to-equity ratio of 2.14.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. Enovix had a negative net margin of 499.64% and a negative return on equity of 64.28%. The company had revenue of $7.60 million during the quarter, compared to analyst estimates of $6.95 million. During the same quarter last year, the firm posted ($0.15) EPS. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. Enovix has set its Q2 2026 guidance at -0.170–0.130 EPS. On average, sell-side analysts expect that Enovix will post -0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ENVX. Vanguard Group Inc. increased its holdings in Enovix by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 17,760,708 shares of the company’s stock worth $129,831,000 after buying an additional 1,747,145 shares during the last quarter. Millennium Management LLC lifted its stake in Enovix by 1,038.9% in the third quarter. Millennium Management LLC now owns 1,476,879 shares of the company’s stock valued at $14,724,000 after acquiring an additional 1,347,200 shares during the last quarter. Two Sigma Investments LP lifted its stake in Enovix by 9,197.1% in the third quarter. Two Sigma Investments LP now owns 1,200,997 shares of the company’s stock valued at $11,974,000 after acquiring an additional 1,188,079 shares during the last quarter. Barclays PLC grew its position in shares of Enovix by 263.1% in the 4th quarter. Barclays PLC now owns 1,551,941 shares of the company’s stock valued at $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 3rd quarter. Electron Capital Partners LLC now owns 8,038,396 shares of the company’s stock valued at $80,143,000 after acquiring an additional 972,103 shares during the period. Institutional investors own 50.92% of the company’s stock.

Enovix Company Profile

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.