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 Corporation (NASDAQ:ENVX) announced a $100 million public offering of common stock, with an option for an additional $15 million. The proceeds will be used for general corporate purposes and to enhance manufacturing capabilities at its facility in Malaysia.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 8:46 pm

Enovix (NASDAQ:ENVX) has seen unusual options activity, with 75% of trades being bullish. The stock is currently down 6.68% at $9.92, and analysts have set price targets ranging from $15 to $30. The options activity suggests a price range of $5 to $13.

Portfolio Pulse from Benzinga Insights

October 30, 2024 | 8:45 pm

Several industrial stocks experienced significant price movements in Wednesday's after-market session. NEXTracker and Orion Group Holdings saw notable gains following their earnings reports, while WillScot Holdings and Titan International faced declines after releasing their Q3 earnings.

Portfolio Pulse from Benzinga Insights

October 30, 2024 | 8:30 pm

Enovix Corporation (NASDAQ:ENVX) shares rose following better-than-expected Q3 results and a new development agreement with a leading smartphone OEM. The company reported Q3 revenue of $4.32 million, surpassing estimates, and a smaller-than-expected loss per share. Enovix also announced a new agreement to develop a silicon anode battery for a top smartphone OEM, with a launch targeted for Q4 2025. Analysts reiterated positive ratings and price targets for the stock.

Portfolio Pulse from Vaishali Prayag

October 30, 2024 | 7:19 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

October 30, 2024 | 5:36 pm

Benchmark analyst Michael Legg has reiterated a Buy rating on Enovix (NASDAQ:ENVX) and maintained a $25 price target.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 2:32 pm

Enovix shares rose following a strong Q3 earnings report and a new development agreement with a major Chinese smartphone OEM.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 10:48 am

Enovix Corp (NASDAQ:ENVX) shares surged after reporting better-than-expected Q3 results and announcing a development agreement with a leading smartphone company. The company reported Q3 revenue of $4.32 million, surpassing estimates, and a smaller-than-expected EPS loss. Enovix also secured a 2025 launch commitment from a major smartphone OEM and expects higher Q4 revenue than anticipated.

Portfolio Pulse from Adam Eckert

October 29, 2024 | 9:19 pm

In Tuesday's after-market session, Enovix (ENVX) saw a significant rise of 18.6% following its Q3 earnings release. Other gainers included Vast Renewables (VSTE), Armlogi Holding (BTOC), Stem (STEM), Laser Photonics (LASE), and SES AI (SES). On the losing side, Pixie Dust Technologies (PXDT) and Nature's Miracle Holding (NMHI) experienced notable declines.

Portfolio Pulse from Benzinga Insights

October 29, 2024 | 8:31 pm

Enovix (NASDAQ:ENVX) has provided guidance for Q4 with an adjusted EPS range of $(0.21)-(0.15), slightly below the analyst estimate of $(0.20). However, the company expects sales between $8 million and $10 million, surpassing the analyst estimate of $7.38 million.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:28 pm

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