Research Analysts Issue Forecasts for Enovix FY2025 Earnings

Enovix Co. (NASDAQ:ENVX - Free Report) - Equities research analysts at Cantor Fitzgerald cut their FY2025 EPS estimates for Enovix in a research report issued to clients and investors on Thursday, March 27th. Cantor Fitzgerald analyst D. Soderberg now forecasts that the company will post earnings of ($0.83) per share for the year, down from their prior estimate of ($0.82). Cantor Fitzgerald currently has a "Overweight" rating and a $30.00 target price on the stock. The consensus estimate for Enovix's current full-year earnings is ($1.01) per share.

Enovix (NASDAQ:ENVX - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%. The company had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million.

Separately, Craig Hallum decreased their target price on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Enovix currently has a consensus rating of "Moderate Buy" and an average target price of $20.30.

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Enovix Price Performance

Shares of NASDAQ ENVX traded down $0.64 during mid-day trading on Monday, reaching $5.99. The company had a trading volume of 1,437,714 shares, compared to its average volume of 6,083,875. Enovix has a one year low of $5.70 and a one year high of $18.68. The business's 50-day simple moving average is $9.58 and its 200 day simple moving average is $9.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -4.14 and a beta of 1.93.

Hedge Funds Weigh In On Enovix

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock worth $27,000 after buying an additional 1,000 shares during the last quarter. Hodges Capital Management Inc. raised its holdings in shares of Enovix by 1.8% in the 4th quarter. Hodges Capital Management Inc. now owns 57,500 shares of the company's stock worth $625,000 after acquiring an additional 1,000 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Enovix by 6.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company's stock valued at $228,000 after purchasing an additional 1,214 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Enovix by 6.8% during the 4th quarter. Victory Capital Management Inc. now owns 19,695 shares of the company's stock worth $214,000 after purchasing an additional 1,257 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Enovix by 6.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,413 shares of the company's stock valued at $233,000 after purchasing an additional 1,336 shares in the last quarter. 50.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Enovix

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following 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 at the SEC website. Corporate insiders own 15.70% 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.