FY2025 EPS Estimates for Enovix Cut by Cantor Fitzgerald

Enovix Co. (NASDAQ:ENVX) – Equities researchers at Cantor Fitzgerald lowered their FY2025 earnings per share estimates for Enovix in a research report issued on Thursday, March 27th. Cantor Fitzgerald analyst D. Soderberg now forecasts that the company will earn ($0.83) per share for the year, down from their prior estimate of ($0.82). Cantor Fitzgerald has a “Overweight” rating and a $30.00 price target on the stock. The consensus estimate for Enovix’s current full-year earnings is ($1.01) per share.

Separately, Craig Hallum lowered their price objective on Enovix from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enovix presently has an average rating of “Moderate Buy” and an average target price of $20.30.

Enovix Trading Up 1.4 %

Shares of Enovix stock opened at $7.44 on Monday. Enovix has a 1-year low of $5.70 and a 1-year high of $18.68. The company’s fifty day simple moving average is $9.77 and its 200-day simple moving average is $10.02. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The stock has a market capitalization of $1.42 billion, a PE ratio of -5.13 and a beta of 1.93.

Enovix (NASDAQ:ENVX) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $9.72 million during 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%.

Insider Buying and Selling

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the transaction, the chief executive officer now owns 2,045,301 shares in the company, valued at $19,123,564.35. The trade was a 12.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.70% of the stock is owned by corporate insiders.

Institutional Trading of Enovix

A number of hedge funds and other institutional investors have recently bought and sold shares of ENVX. California State Teachers Retirement System grew its holdings in shares of Enovix by 2.8% in the fourth quarter. California State Teachers Retirement System now owns 141,206 shares of the company’s stock worth $1,535,000 after purchasing an additional 3,870 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Enovix by 6.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company’s stock worth $233,000 after acquiring an additional 1,336 shares in the last quarter. Fluent Financial LLC purchased a new position in shares of Enovix during the fourth quarter worth approximately $737,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Enovix during the fourth quarter valued at approximately $2,101,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Enovix by 104.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 23,575 shares of the company’s stock valued at $256,000 after purchasing an additional 12,050 shares during the period. Hedge funds and other institutional investors own 50.92% of the company’s stock.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.