FY2025 EPS Estimates for Enovix Lowered by Cantor Fitzgerald

Enovix Co. (NASDAQ:ENVX - Free Report) - Equities research analysts at Cantor Fitzgerald lowered their FY2025 earnings per share (EPS) estimates for Enovix in a report released on Thursday, March 27th. Cantor Fitzgerald analyst D. Soderberg now expects that the company will post earnings per share of ($0.83) for the year, down from their previous forecast of ($0.82). Cantor Fitzgerald has a "Overweight" rating and a $30.00 price target on the stock. The consensus estimate for Enovix's current full-year earnings is ($1.01) per share.

Separately, Craig Hallum cut their price target on Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.30.

Enovix Trading Down 13.1 %

ENVX stock traded down $1.00 during midday trading on Monday, reaching $6.63. The company's stock had a trading volume of 13,355,851 shares, compared to its average volume of 6,099,857. The business's 50-day simple moving average is $9.58 and its 200-day simple moving average is $9.98. 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 52 week low of $5.70 and a 52 week high of $18.68. The stock has a market cap of $1.27 billion, a PE ratio of -4.57 and a beta of 1.93.

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Enovix (NASDAQ:ENVX - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.01. 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 the consensus estimate of $8.77 million.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ENVX. Coppell Advisory Solutions LLC acquired a new stake in shares of Enovix during the fourth quarter worth $27,000. Fifth Third Bancorp increased its holdings in Enovix by 66.7% during the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock worth $27,000 after purchasing an additional 1,000 shares in the last quarter. Sava Infond d.o.o. acquired a new stake in shares of Enovix in the 4th quarter valued at about $43,000. Hollencrest Capital Management lifted its holdings in shares of Enovix by 61.4% in the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company's stock valued at $57,000 after purchasing an additional 2,000 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Enovix during the fourth quarter worth about $64,000. Institutional investors own 50.92% of the company's stock.

Insider Buying and Selling

In related news, CEO Rajendra K. Talluri sold 300,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,045,301 shares of the company's stock, valued at approximately $19,123,564.35. This represents a 12.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.70% of the stock is currently owned by company insiders.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode 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.