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

Enovix Corp (NASDAQ:ENVX) shares surged in after-hours trading following better-than-expected Q2 results and new collaborations. The company reported Q2 revenue of $3.768 million and a loss of 14 cents per share, both beating estimates. Enovix also announced new partnerships, including a collaboration with a Fortune 200 company and a Memorandum of Understanding with a global automotive OEM.

Portfolio Pulse from Adam Eckert

July 31, 2024 | 9:18 pm

Enovix shares surged after the company reported better-than-expected Q2 financial results and announced a non-binding MOU with a Global Automotive OEM to scale its cell architecture into the EV market.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:55 pm

Enovix Corporation has signed a non-binding Memorandum of Understanding (MOU) with a global automotive OEM to scale its cell architecture for the electric vehicle (EV) market. The focus will be on cell design and performance validation at the cell, pack, and vehicle levels to enhance performance and customer experience.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:39 pm

Enovix Corporation has signed a collaboration agreement with a Fortune 200 company to supply silicon batteries for a rapidly growing IoT product category with tens of millions of users worldwide.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:39 pm

Enovix (NASDAQ:ENVX) reported Q2 2024 adjusted EPS of $(0.14), beating the estimate of $(0.23). Sales were $3.768M, surpassing the $3.693M estimate and showing a significant increase from the previous year's $42K.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 8:14 pm

As Q2 earnings season approaches, clean tech stocks like Enovix Corp (NASDAQ:ENVX) and ChargePoint Holdings Inc (NYSE:CHPT) are in focus. Despite recent gains, the sector remains volatile. Analyst Bill Peterson highlights cautious investor sentiment and elevated short interest. Enovix has announced new commercial agreements and plans to scale production, leading to a raised price target. ChargePoint is expected to see sequential improvement but faces mixed demand. Archer Aviation Inc (NYSE:ACHR) and Joby Aviation Inc (NYSE:JOBY) have surged but may not align with fundamentals. Plug Power Inc (NASDAQ:PLUG) faces policy uncertainty affecting growth. The sector faces political and economic risks, with upcoming earnings likely to address these issues.

Portfolio Pulse from Surbhi Jain

July 24, 2024 | 12:33 pm

Benchmark analyst Michael Legg initiates coverage on Enovix (NASDAQ:ENVX) with a Buy rating and sets a price target of $25.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 11:36 am

The article highlights the top-performing mid-cap stocks from June 23 to June 29, including Tempus AI, Enovix Corporation, Grindr Inc., Trump Media & Technology Group, Credo Technology Group, Tecnoglass Inc., STAAR Surgical Company, RXO Inc., Global-E Online Ltd, and SentinelOne Inc. These stocks saw significant gains due to various positive developments such as FDA clearance, strategic partnerships, revenue guidance updates, and analyst upgrades.

Portfolio Pulse from Lekha Gupta

June 30, 2024 | 8:20 pm

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

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 1:34 pm

Enovix Corp (NASDAQ:ENVX) shares are experiencing volatility after a significant rise. The company announced a Memorandum of Understanding (MOU) with Elentec Co, a battery pack manufacturer, to support its growth and accelerate R&D and commercialization efforts. This follows a previous agreement with a leading California-based tech company for silicon batteries for a mixed reality headset.

Portfolio Pulse from Adam Eckert

June 26, 2024 | 12:44 pm

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