Enovix (NASDAQ:ENVX - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01, Zacks reports. 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 for the quarter, compared to analysts' expectations of $8.77 million. Enovix updated its Q1 2025 guidance to -0.210--0.150 EPS.
Enovix Stock Performance
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 firm has a market cap of $1.91 billion, a PE ratio of -7.39 and a beta of 1.87. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99. Enovix has a 1-year low of $5.70 and a 1-year high of $18.68. The company's fifty day moving average price is $11.15 and its 200-day moving average price is $10.29.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on ENVX. Craig Hallum lowered their price objective on shares of Enovix from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of Enovix in a report on Thursday. Benchmark reiterated 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 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 issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.30.
Read Our Latest Stock Analysis on Enovix
Insider Activity at Enovix
In related news, Director Betsy S. Atkins sold 75,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the completion of the transaction, the director now owns 99,497 shares in the company, 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 at this hyperlink. Company insiders own 15.70% of the company's stock.
About Enovix
(
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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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