Enovix (NASDAQ:ENVX) Announces Quarterly Earnings Results

Enovix (NASDAQ:ENVX) announced its quarterly earnings data on Wednesday. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01, Zacks reports. The firm had revenue of $9.72 million for the quarter, compared to analyst estimates of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. Enovix updated its Q1 2025 guidance to -0.210–0.150 EPS.

Enovix Stock Up 2.5 %

ENVX opened at $11.47 on Friday. Enovix has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The company’s 50-day moving average is $11.11 and its 200 day moving average is $10.30. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ENVX shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Enovix in a research note on Thursday. Craig Hallum cut their target price on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. Janney Montgomery Scott lowered shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Thursday, October 31st. Finally, Benchmark reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.30.

About Enovix

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.