Enovix (ENVX) Projected to Post Earnings on Wednesday

Enovix (NASDAQ:ENVX - Get Free Report) is anticipated to announce its Q4 2024 earnings results after the market closes on Wednesday, February 19th. Analysts expect the company to announce earnings of ($0.18) per share and revenue of $8.77 million for the quarter. Enovix has set its Q1 2025 guidance at -0.210--0.150 EPS.Parties that wish to register for the company's conference call can do so using this link.

Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The company had revenue of $9.72 million for the quarter, compared to the consensus estimate of $8.77 million. On average, analysts expect Enovix to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Enovix Stock Performance

Shares of NASDAQ:ENVX traded up $0.28 on Thursday, reaching $11.47. The company's stock had a trading volume of 10,618,860 shares, compared to its average volume of 7,059,146. Enovix has a 52-week low of $5.70 and a 52-week high of $18.68. The stock has a market capitalization of $2.04 billion, a P/E ratio of -7.12 and a beta of 1.87. The stock's 50-day moving average is $11.06 and its two-hundred day moving average is $10.29. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61.

Wall Street Analysts Forecast Growth

ENVX has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price objective on shares of Enovix in a research note on Thursday. Benchmark restated a "buy" rating and set a $25.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Craig Hallum lowered their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Janney Montgomery Scott downgraded shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price objective for the company. in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Enovix presently has an average rating of "Moderate Buy" and a consensus price target of $20.30.

Insiders Place Their Bets

In related news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the completion of the transaction, the director now directly 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 document filed with the SEC, which is available at this hyperlink. 15.70% of the stock is currently owned by company insiders.

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.