Enovix (NASDAQ:ENVX) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Enovix (NASDAQ:ENVX) issued its quarterly earnings results on Wednesday. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.01, Zacks reports. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. Enovix updated its Q1 2025 guidance to -0.210–0.150 EPS.

Enovix Stock Up 0.3 %

Shares of NASDAQ ENVX traded up $0.03 during trading hours on Wednesday, hitting $11.19. The company had a trading volume of 10,623,974 shares, compared to its average volume of 6,858,173. The stock has a market capitalization of $1.99 billion, a P/E ratio of -6.95 and a beta of 1.87. Enovix has a 1-year low of $5.70 and a 1-year high of $18.68. The firm’s 50 day moving average is $11.03 and its 200-day moving average is $10.29. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99.

Insider Buying and Selling at Enovix

In related news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the transaction, the director now directly owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. The trade was a 42.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.70% of the company’s stock.

Analysts Set New Price Targets

ENVX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Janney Montgomery Scott cut shares of 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. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Finally, Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Enovix in a report on Wednesday, October 30th. Two equities research 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

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.