Brokers Set Expectations for Enovix FY2025 Earnings

Enovix Co. (NASDAQ:ENVX) – Investment analysts at Cantor Fitzgerald issued their FY2025 earnings per share estimates for Enovix in a report issued on Tuesday, January 21st. Cantor Fitzgerald analyst D. Soderberg forecasts that the company will earn ($1.18) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $30.00 target price on the stock. The consensus estimate for Enovix’s current full-year earnings is ($1.17) per share.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.11 million. During the same quarter last year, the company posted ($0.27) EPS.

Several other equities research analysts have also recently commented on the company. Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. 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 stock. Based on data from MarketBeat, Enovix currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Enovix Stock Performance

Shares of Enovix stock opened at $12.32 on Thursday. The firm has a 50 day simple moving average of $10.30 and a 200 day simple moving average of $10.86. Enovix has a fifty-two week low of $5.70 and a fifty-two week high of $18.68. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The firm has a market cap of $2.19 billion, a P/E ratio of -7.65 and a beta of 1.86.

Insider Buying and Selling

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 99,497 shares of the company’s stock, valued at approximately $968,105.81. This represents a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Enovix

Several institutional investors and hedge funds have recently made changes to their positions in ENVX. Prospera Private Wealth LLC acquired a new stake in Enovix during the 3rd quarter worth $27,000. Fifth Third Bancorp increased its holdings in shares of Enovix by 66.7% in the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after acquiring an additional 1,000 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Enovix during the second quarter worth about $39,000. R Squared Ltd bought a new position in shares of Enovix during the 4th quarter valued at about $64,000. Finally, Voisard Asset Management Group Inc. grew its position in shares of Enovix by 40.0% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company’s stock valued at $65,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 50.92% of the company’s stock.

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.