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

7.38

Mkt cap

1.5B

Volume

High

7.67

P/E Ratio

-6.02

52-wk high

18.68

Low

7.34

Div yield

N/A

52-wk low

5.70

Enovix (NASDAQ:ENVX) has received mixed analyst ratings over the past three months, with a majority being bullish. Analysts have set a 12-month average price target of $22.62, reflecting a 6.25% increase from the previous target. Enovix has shown significant revenue growth but faces challenges with profitability and financial risk due to high debt levels.

Portfolio Pulse from Benzinga Insights

August 26, 2024 | 3:00 pm

Oppenheimer analyst Colin Rusch has reiterated an 'Outperform' rating for Enovix (NASDAQ:ENVX) and maintained a price target of $36.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 2:56 pm

Enovix (NYSE:ENVX) has seen a significant rise in its short interest, with 45.56 million shares sold short, representing 38.58% of its float. This increase in short interest suggests bearish sentiment among investors. However, it is important to note that high short interest can sometimes be bullish if short sellers are forced to cover their positions.

Portfolio Pulse from Benzinga Insights

August 12, 2024 | 8:00 pm

The article highlights significant options activity for several industrial stocks, indicating potential trading opportunities. Notable mentions include bullish sentiment for UNP, LYFT, XPO, FDX, and ZIM, and bearish sentiment for BA, GE, BLDR, ENVX, and SPR.

Portfolio Pulse from Benzinga Insights

August 06, 2024 | 5:35 pm

Enovix (NASDAQ:ENVX) has received mixed analyst ratings over the past three months, with a recent shift towards more bullish sentiments. The average 12-month price target has increased by 9.98% to $20.71. Analysts have adjusted their ratings and price targets, reflecting their responses to the company's performance and market conditions. Despite these positive shifts, Enovix faces financial challenges, including declining revenue, negative net margins, and high debt levels.

Portfolio Pulse from Benzinga Insights

August 05, 2024 | 9:00 pm

Piper Sandler analyst Alexander Potter has reiterated an Overweight rating on Enovix (NASDAQ:ENVX) but has lowered the price target from $23 to $19.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 12:50 pm

TD Cowen analyst Gabe Daoud maintains a Hold rating on Enovix (NASDAQ:ENVX) and raises the price target from $11 to $14.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 6:57 pm

Enovix Corp (NASDAQ:ENVX) shares are trading lower despite beating analyst estimates on revenue and earnings. The company reported revenue of $3.768 million and a loss of 14 cents per share, both better than expected. Enovix announced new collaboration agreements, including one with a Fortune 200 company for IoT batteries and an MOU with a global automotive OEM for EV batteries. Despite initial gains, the stock fell 15.7% to $12.16.

Portfolio Pulse from Adam Eckert

August 01, 2024 | 5:37 pm

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

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 5:17 pm

Craig-Hallum analyst Anthony Stoss maintains a Buy rating on Enovix (NASDAQ:ENVX) and raises the price target from $15 to $20.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 5:03 pm

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