FY2025 EPS Estimates for Enovix Lifted by Cantor Fitzgerald

Enovix Co. (NASDAQ:ENVX - Free Report) - Cantor Fitzgerald boosted their FY2025 EPS estimates for shares of Enovix in a research note issued to investors on Thursday, February 20th. Cantor Fitzgerald analyst D. Soderberg now forecasts that the company will earn ($0.82) per share for the year, up from their previous estimate of ($1.18). Cantor Fitzgerald has a "Overweight" rating and a $30.00 price objective 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 (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. The company had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%.

ENVX has been the topic of several other research reports. Craig Hallum lowered their price target 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. 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. Finally, Benchmark restated a "buy" rating and issued a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.30.

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Enovix Stock Performance

Shares of NASDAQ ENVX traded down $0.59 during trading hours on Monday, hitting $9.04. 5,244,824 shares of the company's stock were exchanged, compared to its average volume of 7,053,040. The company's 50-day moving average price is $11.22 and its 200-day moving average price is $10.26. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -6.23 and a beta of 1.87. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. Enovix has a 1-year low of $5.70 and a 1-year high of $18.68.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Enovix by 15.1% in the fourth quarter. Vanguard Group Inc. now owns 15,773,464 shares of the company's stock valued at $171,458,000 after purchasing an additional 2,063,631 shares during the last quarter. Electron Capital Partners LLC lifted its holdings in Enovix by 0.5% during the fourth quarter. Electron Capital Partners LLC now owns 5,658,734 shares of the company's stock worth $61,510,000 after acquiring an additional 29,109 shares during the period. Geode Capital Management LLC boosted its position in Enovix by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 3,818,827 shares of the company's stock worth $41,520,000 after purchasing an additional 235,142 shares during the last quarter. Royal Bank of Canada grew its stake in Enovix by 1.5% in the 4th quarter. Royal Bank of Canada now owns 1,933,073 shares of the company's stock valued at $21,012,000 after purchasing an additional 28,591 shares during the period. Finally, Fred Alger Management LLC increased its position in shares of Enovix by 212.4% during the 4th quarter. Fred Alger Management LLC now owns 1,838,914 shares of the company's stock valued at $19,989,000 after purchasing an additional 1,250,300 shares during the last quarter. Institutional investors own 50.92% of the company's stock.

Insider Buying and Selling at Enovix

In other news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction dated Tuesday, December 3rd. The shares were 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. This trade represents a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.70% of the company's stock.

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.