Streetbeat News

ENVX

Enovix Corporation

https://www.enovix.com

Industry

Electrical Equipment & Parts

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.

Open

8.81

Mkt cap

1.6B

Volume

4.3M

High

8.83

P/E Ratio

-5.85

52-wk high

18.68

Low

8.43

Div yield

N/A

52-wk low

5.70

EF Hutton analyst Tim Moore has reiterated a Buy rating on Enovix (NASDAQ:ENVX) and maintained a $24 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 4:20 pm

Enovix Corp (NASDAQ:ENVX) reported mixed Q4 results with revenue beating estimates at $7.38 million but EPS missing by a cent at a 28 cent loss. The company issued weak Q1 guidance, expecting revenue between $3.5 million and $4.5 million, below estimates of $4.56 million, and an adjusted loss of 29 to 35 cents per share, worse than the estimated 24 cent loss. Despite this, Canaccord Genuity and Cantor Fitzgerald reiterated their positive ratings with price targets of $17 and $30, respectively.

Portfolio Pulse from Adam Eckert

February 21, 2024 | 3:09 pm

Cantor Fitzgerald analyst Derek Soderberg has reiterated an Overweight rating on Enovix (NASDAQ:ENVX) and maintained a $30 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:30 pm

Canaccord Genuity analyst George Gianarikas reiterated a Buy rating on Enovix (NASDAQ:ENVX) and maintained a $17 price target.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 1:58 pm

In Wednesday's pre-market session, several industrials stocks showed significant movement. VCI Global, Energy Focus, and Intuitive Machines were among the top gainers, with increases of 83.0%, 43.41%, and 28.29% respectively. On the losing side, Vertiv Holdings, Staffing 360 Solutions, and Roma Green Finance saw declines of 11.3%, 10.37%, and 7.86%. Notably, Vertiv Holdings and Alight released their Q4 earnings today, while Enovix did so yesterday.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 1:06 pm

Wall Street saw a decline with the Nasdaq down 0.9%, S&P 500 down 0.6%, and Dow Jones down 0.17%. Intuitive Machines surged 50.14% after a successful lunar lander launch. Palo Alto Networks slightly fell despite beating earnings expectations. Enovix dropped after a mixed earnings report but maintained investor interest with its battery technology. Teladoc Health declined with revenue missing estimates. Tesla fell amid concerns over demand in China and Cybertruck production.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 2:24 am

Enovix Corp (NASDAQ:ENVX) reported Q4 revenue of $7.38 million, surpassing estimates of $3.37 million but had an adjusted loss of 28 cents per share, missing the expected loss of 27 cents. The company attributes its strong performance to Routejade and U.S. Army shipments. Enovix ended the quarter with $306.8 million in cash and investments, and aims to become a scale supplier with significant revenue and margins. For Q1, Enovix forecasts revenue between $3.5 million and $4.5 million, below estimates, and anticipates a larger loss per share than expected. Shares rose 5.94% after hours to $12.48.

Portfolio Pulse from Adam Eckert

February 20, 2024 | 9:43 pm

In Tuesday's after-market session, several industrials stocks saw significant movements. Intuitive Machines (LUNR) led the gainers with a 7.5% increase, while Sentage Holdings (SNTG) experienced the largest drop among the losers, declining by 6.8%. Other notable movers included Enovix (ENVX) with a 6.53% increase following their Q4 earnings release, and Fusion Fuel Green (HTOO) with a 6.46% decrease.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 9:31 pm

Enovix forecasts its Q1 2024 adjusted EPS to be between $(0.35) and $(0.29), missing the $(0.24) estimate. Revenue is expected to be between $3.5M and $4.5M, falling short of the $4.56M estimate.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 9:24 pm

Enovix Corporation (NASDAQ:ENVX) reported its Q4 earnings on February 20, 2024, missing estimated earnings by 3.7% with an EPS of $-0.28 versus an estimate of $-0.27. Revenue increased by $6.29 million from the same period last year. In the previous quarter, Enovix beat EPS estimates by $0.04, leading to a 14.75% share price increase the following day.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 9:10 pm

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