Enovix (NASDAQ:ENVX) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Enovix Price Performance

Shares of NASDAQ ENVX traded up $0.03 during midday trading on Wednesday, reaching $11.19. 10,623,974 shares of the company traded hands, compared to its average volume of 6,858,173. The stock’s 50-day simple moving average is $11.03 and its 200-day simple moving average is $10.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. Enovix has a 12 month low of $5.70 and a 12 month high of $18.68. The firm has a market cap of $1.99 billion, a PE ratio of -6.95 and a beta of 1.87.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Janney Montgomery Scott downgraded shares of Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Insiders Place Their Bets

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