Cantor Fitzgerald Weighs in on Enovix FY2025 Earnings

Enovix Co. (NASDAQ:ENVX - Free Report) - Equities researchers at Cantor Fitzgerald issued their FY2025 earnings per share (EPS) estimates for Enovix in a report issued on Tuesday, January 21st. Cantor Fitzgerald analyst D. Soderberg forecasts that the company will post earnings of ($1.18) per share for the year. 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 ($1.17) per share.

Enovix (NASDAQ:ENVX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.03. The company had revenue of $4.30 million for the quarter, compared to analysts' expectations of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same quarter in the previous year, the company posted ($0.27) EPS.

A number of other research firms have also issued reports on ENVX. JPMorgan Chase & Co. dropped their price target on Enovix from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. Benchmark reaffirmed a "buy" rating and issued a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Finally, Janney Montgomery Scott cut shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price target on the stock. in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.50.

Enovix Price Performance

NASDAQ ENVX traded up $0.67 during trading hours on Thursday, hitting $12.11. 7,533,677 shares of the company's stock traded hands, compared to its average volume of 8,349,822. 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 firm's 50-day moving average is $10.16 and its 200-day moving average is $10.88. Enovix has a 52-week low of $5.70 and a 52-week high of $18.68. The company has a market capitalization of $2.16 billion, a PE ratio of -7.52 and a beta of 1.86.

Hedge Funds Weigh In On Enovix

Hedge funds have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV purchased a new stake in Enovix during the 2nd quarter valued at approximately $163,000. Sei Investments Co. purchased a new stake in shares of Enovix during the second quarter worth approximately $555,000. Fred Alger Management LLC acquired a new stake in shares of Enovix during the second quarter worth $354,000. Delta Investment Management LLC purchased a new position in Enovix in the 2nd quarter valued at $155,000. Finally, The Manufacturers Life Insurance Company increased its stake in Enovix by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 85,403 shares of the company's stock valued at $1,320,000 after buying an additional 6,484 shares during the period. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total transaction of $729,750.00. Following the sale, the director now directly owns 99,497 shares in the company, valued at $968,105.81. This trade represents a 42.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.70% of the stock is owned by company insiders.

Enovix Company Profile

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.