Enovix (NASDAQ:ENVX) Shares Gap Down – Time to Sell?

by · The Cerbat Gem

Enovix Corporation (NASDAQ:ENVX – Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $8.24, but opened at $7.70. Enovix shares last traded at $7.4970, with a volume of 1,823,573 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ENVX. Canaccord Genuity Group reduced their price objective on Enovix from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enovix in a research note on Monday, December 29th. Northland Securities set a $16.00 price objective on Enovix in a report on Monday, November 17th. JPMorgan Chase & Co. lowered their price target on Enovix from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Finally, Oppenheimer set a $24.00 price objective on Enovix in a report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.50.

Get Our Latest Stock Report on Enovix

Enovix Price Performance

The stock’s 50 day simple moving average is $8.01 and its two-hundred day simple moving average is $10.25. The firm has a market capitalization of $1.62 billion, a PE ratio of -9.25 and a beta of 2.13. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.47 and a current ratio of 9.72.

Enovix (NASDAQ:ENVX – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. Enovix had a negative return on equity of 61.78% and a negative net margin of 525.93%.The business had revenue of $7.99 million during the quarter, compared to the consensus estimate of $7.94 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The company’s revenue was up 86.0% compared to the same quarter last year. Enovix has set its Q4 2025 guidance at -0.200–0.160 EPS. On average, sell-side analysts forecast that Enovix Corporation will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd bought a new position in shares of Enovix in the 2nd quarter worth about $3,612,000. Perennial Investment Advisors LLC lifted its stake in Enovix by 50.2% during the second quarter. Perennial Investment Advisors LLC now owns 366,100 shares of the company’s stock valued at $3,785,000 after buying an additional 122,278 shares in the last quarter. XTX Topco Ltd acquired a new position in Enovix during the second quarter valued at $1,107,000. Baird Financial Group Inc. raised its holdings in shares of Enovix by 24.0% during the second quarter. Baird Financial Group Inc. now owns 721,930 shares of the company’s stock worth $7,465,000 after acquiring an additional 139,617 shares in the last quarter. Finally, Sonora Investment Management Group LLC lifted its stake in Enovix by 27.5% in the second quarter. Sonora Investment Management Group LLC now owns 413,676 shares of the company’s stock valued at $4,277,000 after acquiring an additional 89,227 shares during the last quarter. Hedge funds and other institutional investors own 50.92% of the company’s stock.

About Enovix

(Get Free Report)

Enovix Corporation (NASDAQ: ENVX) develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.

Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.

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