Enovix Target of Unusually Large Options Trading (NASDAQ:ENVX)

Enovix Corporation (NASDAQ:ENVX) saw unusually large options trading activity on Thursday. Stock investors bought 31,896 call options on the stock. This is an increase of 90% compared to the average volume of 16,753 call options.

More Enovix News

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: Q4 beat: Enovix reported Q4 revenue and EPS ahead of estimates (revenue ~ $11.3M; EPS -$0.14 vs. -$0.17 consensus), with strong gross‑profit improvement and year‑over‑year revenue growth. This supports continued top‑line momentum. Article Title
• Positive Sentiment: Certain analysts still maintain buy ratings despite cuts — Canaccord and Craig Hallum continue to rate ENVX a “buy,” which can limit downside from purely negative coverage. Article Title
• Neutral Sentiment: Unusual options activity: traders bought ~31,900 call options (≈+90% vs. typical daily call volume), signaling speculative bullish positioning but not necessarily fundamental conviction.
• Neutral Sentiment: Management commentary and earnings call transcript highlight revenue ramp and manufacturing issues — useful for tracking execution risk and timing of production scale‑up. Article Title
• Negative Sentiment: Weak Q1 revenue guide: Enovix issued Q1 revenue guidance ($6.5M–$7.5M) below consensus (~$8.8M), creating a near‑term revenue shortfall that likely prompted selling. See the company release/slides. Article Title
• Negative Sentiment: Analyst price‑target cuts: Multiple firms trimmed targets (Canaccord $21→$15; Craig Hallum $16→$10; TD Cowen $15→$7.50), reducing modeled upside and likely weighing on investor sentiment. Article Title
• Negative Sentiment: Balance‑sheet and liquidity concerns: cash fell materially (reported ~$106M) while total liabilities increased sharply year‑over‑year; continued cash burn and elevated liabilities raise financing and dilution risk. Insider selling was also noted. Article Title

Enovix Price Performance

Shares of NASDAQ ENVX opened at $5.95 on Friday. Enovix has a 1 year low of $5.27 and a 1 year high of $16.49. The stock has a market capitalization of $1.28 billion, a P/E ratio of -7.73 and a beta of 2.13. The company’s 50-day moving average is $7.15 and its 200 day moving average is $8.93. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.72 and a quick ratio of 9.47.

Analyst Ratings Changes

ENVX has been the subject of several analyst reports. Oppenheimer reissued an “outperform” rating on shares of Enovix in a research report on Thursday. Canaccord Genuity Group lowered their price objective on shares of Enovix from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday. Northland Securities set a $16.00 target price on Enovix in a research note on Monday, November 17th. Cantor Fitzgerald reduced their price target on Enovix from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. lowered their price target on Enovix from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Enovix currently has an average rating of “Moderate Buy” and a consensus target price of $15.65.

Institutional Investors Weigh In On Enovix

Several hedge funds have recently bought and sold shares of ENVX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Enovix by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 98,318 shares of the company’s stock valued at $722,000 after purchasing an additional 4,780 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Enovix by 10.4% in the 1st quarter. NewEdge Advisors LLC now owns 26,257 shares of the company’s stock worth $193,000 after buying an additional 2,481 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Enovix by 65.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,137,777 shares of the company’s stock worth $8,351,000 after acquiring an additional 449,934 shares during the last quarter. Caxton Associates LLP purchased a new stake in Enovix during the 1st quarter valued at about $190,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Enovix by 18.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,023 shares of the company’s stock valued at $2,628,000 after buying an additional 55,676 shares during the last quarter. 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.