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 Corporation (NASDAQ:ENVX) has signed a Memorandum of Understanding (MOU) with Elentec Co., Ltd to enhance global battery pack manufacturing. This agreement aims to establish a long-term business relationship, leveraging Elentec's design and manufacturing capabilities to support Enovix's growth.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 11:33 am

Enovix Corporation (NASDAQ:ENVX) shares are surging after signing a deal to supply silicon batteries for mixed reality headsets. The company expects initial and subsequent payments for tooling and battery supplies. Enovix's proprietary silicon anode technology offers high energy density. The company recently shipped and started producing EX-1M battery samples. Enovix reported quarterly sales beating estimates but missed on earnings per share. ENVX stock is up 30% today. Investors can also gain exposure via Tidal Trust II YieldMax Ultra Option Income Strategy ETF (NYSE:ULTY) and Invesco WilderHill Clean Energy ETF (NYSE:PBW).

Portfolio Pulse from Lekha Gupta

June 25, 2024 | 2:38 pm

Market-Moving News for June 25th: Regis (RGS) shares surged 164% after announcing a new senior secured credit facility with TCW Asset Management. Enovix (ENVX) shares rose 24% following a deal to supply silicon batteries for mixed reality headsets. SolarEdge Technologies (SEDG) shares fell 19% after announcing a $300 million convertible notes offering due 2029.

Portfolio Pulse from ryanfaloona@benzinga.com

June 25, 2024 | 12:40 pm

Enovix shares are trading higher after the company signed a deal to supply silicon batteries for mixed reality headsets.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 11:39 am

Enovix Corporation (NASDAQ:ENVX) has signed an agreement with a leading California-based technology company to supply silicon batteries for mixed reality headsets. The deal includes an immediate one-time payment for tooling and subsequent payments for sample and production quantities. Enovix's high energy density batteries are designed to support the continuous use required by mixed reality devices. The global market for VR and AR headsets is expected to grow significantly, enhancing the potential impact of this agreement.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 11:32 am

Avidity Biosciences, CleanSpark, and other mid-cap stocks saw significant gains last week. Avidity Biosciences surged 50.15% due to positive trial data, while CleanSpark gained 13.31% amid Bitcoin strength. Other notable gainers include Iris Energy, Hims & Hers Health, John Wiley & Sons, Element Solutions, Enovix, Axcelis Technologies, Intellia Therapeutics, and Korn Ferry.

Portfolio Pulse from Lekha Gupta

June 16, 2024 | 6:25 pm

Streamline Health Solutions (NASDAQ:STRM) shares fell 23.3% after reporting worse-than-expected Q1 EPS results. Other notable stock movements include DDC Enterprise (NYSE:DDC) surging 101% after acquiring Omsom, and Beamr Imaging (NASDAQ:BMR) gaining 39.3% following the announcement of its Beamr Cloud solution's availability in the Oracle Cloud Marketplace.

Portfolio Pulse from Avi Kapoor

June 12, 2024 | 5:25 pm

Casey's General Stores, Inc. (CASY) reported better-than-expected earnings and increased its dividend, leading to a 16.5% rise in its stock price. Other notable stock movements include Avidity Biosciences, Inc. (RNA) surging 27% due to positive trial data, and Rentokil Initial plc (RTO) jumping 15.5% following a report of Trian's stake. Affirm Holdings, Inc. (AFRM), Zillow Group, Inc. (ZG), and Oracle Corporation (ORCL) also saw significant gains.

Portfolio Pulse from Avi Kapoor

June 12, 2024 | 2:15 pm

JPMorgan analysts highlight Blade Air Mobility Inc (BLDE), ChargePoint Holdings Inc (CHPT), and Enovix Corp (ENVX) as clean tech stocks with over 40% upside potential. Blade's strong Q1 performance and ChargePoint's market position, along with Enovix's cost reduction efforts, underscore their growth potential in the clean energy sector.

Portfolio Pulse from Surbhi Jain

May 13, 2024 | 7:05 pm

Enovix, a battery developer, has laid off approximately one-third of its staff, according to The Information. This significant reduction in workforce could indicate financial or operational challenges within the company, potentially impacting its future growth and development in the competitive battery technology market.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 7:26 pm

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