Brokers Set Expectations for Enovix FY2025 Earnings

Enovix Co. (NASDAQ:ENVX) – Equities research analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for Enovix in a note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst D. Soderberg anticipates that the company will post earnings per share of ($1.18) for the year. 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 ($1.17) per share.

Other equities analysts have also recently issued research reports about the company. Janney Montgomery Scott cut Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Thursday, October 31st. Benchmark reissued a “buy” rating and set a $25.00 target price on shares of Enovix in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Two research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.50.

Enovix Trading Up 5.9 %

ENVX opened at $12.11 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. The stock’s 50 day moving average price is $10.23 and its 200-day moving average price is $10.89. Enovix has a one year low of $5.70 and a one year high of $18.68. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -7.52 and a beta of 1.86.

Enovix (NASDAQ:ENVX) last released its earnings results on Tuesday, October 29th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.03. The firm had revenue of $4.30 million during the quarter, compared to analyst estimates of $4.11 million. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. During the same quarter last year, the business earned ($0.27) EPS.

Insider Activity

In other news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now directly owns 99,497 shares in the company, valued at approximately $968,105.81. This trade represents a 42.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On Enovix

A number of hedge funds have recently made changes to their positions in ENVX. Mercer Global Advisors Inc. ADV bought a new position in Enovix in the second quarter worth about $163,000. Sei Investments Co. purchased a new position in shares of Enovix in the 2nd quarter worth approximately $555,000. Fred Alger Management LLC bought a new position in shares of Enovix during the 2nd quarter worth approximately $354,000. Delta Investment Management LLC purchased a new stake in Enovix during the second quarter valued at approximately $155,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Enovix by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 85,403 shares of the company’s stock valued at $1,320,000 after acquiring an additional 6,484 shares in the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

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.