Northland Capmk Weighs in on Enovix FY2026 Earnings

Enovix Co. (NASDAQ:ENVX - Free Report) - Stock analysts at Northland Capmk issued their FY2026 earnings per share estimates for shares of Enovix in a research report issued to clients and investors on Friday, November 22nd. Northland Capmk analyst G. Richard forecasts that the company will post earnings of ($0.65) per share for the year. The consensus estimate for Enovix's current full-year earnings is ($1.17) per share.

Several other equities analysts have also recently issued reports on ENVX. Oppenheimer reiterated an "outperform" rating and set a $36.00 price target on shares of Enovix in a research report on Monday, August 26th. Canaccord Genuity Group boosted their price target on shares of Enovix from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Benchmark restated a "buy" rating and set a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. TD Cowen boosted their target price on shares of Enovix from $11.00 to $14.00 and gave the stock a "hold" rating in a report on Thursday, August 1st. Finally, Craig Hallum raised their target price on shares of Enovix from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Two equities research 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 stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.50.

Enovix Stock Performance

Shares of Enovix stock traded up $0.10 on Monday, hitting $9.53. The company had a trading volume of 4,742,254 shares, compared to its average volume of 5,609,216. Enovix has a 52 week low of $5.70 and a 52 week high of $18.68. The business has a 50-day simple moving average of $10.01 and a 200-day simple moving average of $11.31. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

Enovix (NASDAQ:ENVX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.03. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. The firm had revenue of $4.30 million during the quarter, compared to analyst estimates of $4.11 million. During the same quarter in the prior year, the firm posted ($0.27) EPS.

Institutional Investors Weigh In On Enovix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC lifted its holdings in shares of Enovix by 63.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,886,492 shares of the company's stock valued at $60,085,000 after buying an additional 1,512,424 shares during the last quarter. Fred Alger Management LLC lifted its stake in Enovix by 2,468.6% in the third quarter. Fred Alger Management LLC now owns 588,614 shares of the company's stock valued at $5,498,000 after acquiring an additional 565,698 shares during the last quarter. Old West Investment Management LLC lifted its stake in Enovix by 47.6% in the second quarter. Old West Investment Management LLC now owns 835,386 shares of the company's stock valued at $12,915,000 after acquiring an additional 269,371 shares during the last quarter. Sora Investors LLC grew its position in Enovix by 75.0% in the third quarter. Sora Investors LLC now owns 525,000 shares of the company's stock worth $4,904,000 after acquiring an additional 225,000 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Enovix by 376.9% during the 3rd quarter. Barclays PLC now owns 252,012 shares of the company's stock worth $2,353,000 after purchasing an additional 199,166 shares during the last quarter. Hedge funds and other institutional investors own 50.92% of the company's stock.

Insider Transactions at Enovix

In related news, insider Arthi Chakravarthy sold 35,000 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $13.00, for a total transaction of $455,000.00. Following the completion of the sale, the insider now directly owns 343,305 shares in the company, valued at approximately $4,462,965. This trade represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.70% of the stock is currently owned by insiders.

Enovix Company Profile

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.