Enovix (NASDAQ:ENVX - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01, Zacks reports. The business had revenue of $9.72 million for the quarter, compared to analysts' expectations of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. Enovix updated its Q1 2025 guidance to -0.210--0.150 EPS.
Enovix Stock Performance
Shares of ENVX stock traded down $0.76 during trading on Friday, reaching $10.72. 10,754,726 shares of the company's stock were exchanged, compared to its average volume of 5,803,739. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $1.91 billion, a PE ratio of -7.39 and a beta of 1.87. Enovix has a twelve month low of $5.70 and a twelve month high of $18.68. The firm's fifty day moving average price is $11.15 and its 200-day moving average price is $10.29.
Insider Buying and Selling
In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the company's stock in a transaction 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 directly owns 99,497 shares of the company's stock, valued at $968,105.81. This represents a 42.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 15.70% of the stock is owned by insiders.
Wall Street Analyst Weigh In
ENVX has been the topic of several recent research reports. Craig Hallum decreased their price target on Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 target price on shares of Enovix in a research note on Thursday. Benchmark reaffirmed a "buy" rating and set a $25.00 price target on shares of Enovix in a research report on Wednesday, October 30th. Finally, Janney Montgomery Scott lowered 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 equities 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 company's stock. According to data from MarketBeat.com, Enovix has an average rating of "Moderate Buy" and an average price target of $20.30.
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Enovix Company Profile
(
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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.
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