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 forecasts its Q2 2024 adjusted EPS to be between $(0.28) and $(0.22), compared to the estimated $(0.22). The company also projects its revenue to be between $3.0M and $4.0M, which is below the estimated $4.054M.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:49 pm

Enovix has entered into a development agreement with an unnamed smartphone OEM, marking a significant step forward in its business expansion and technology deployment.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:44 pm

In Wednesday's after-market session, several industrials stocks showed significant movement. Enovix, C.H. Robinson Worldwide, Graphex Gr, Upwork, Hydrofarm Holdings Group, and Solidion Technology were among the gainers, with notable increases in their stock prices following their Q1 earnings reports. Conversely, Openlane, Getaround, Paycom Software, Conduent, Dun & Bradstreet Holdings, and Professional Diversity Network experienced declines, with some attributing their drops to their Q1 earnings outcomes.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 8:31 pm

Enovix shares are trading higher following the announcement of mixed Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:19 pm

Enovix reported Q1 2024 earnings with an adjusted EPS of $(0.31), missing the $(0.29) estimate, and sales of $5.272M, beating the $3.779M estimate. This represents a 55% increase in losses and a 25,000% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 8:17 pm

B. Riley Securities analyst Christopher Souther maintains a Buy rating on Enovix (NASDAQ:ENVX) but lowers the price target from $18 to $16.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:42 pm

In Monday's pre-market session, there were notable movements in the industrials stocks sector. Ryde Group, Pineapple Energy, and Enovix were among the top gainers, with increases of 17.2%, 10.38%, and 7.58% respectively. On the losing side, Perma-Fix Envirn Servs, Nature's Miracle Holding, and Freight Technologies saw declines of 7.1%, 6.36%, and 6.33% respectively. HNI reported Q1 earnings, contributing to a 5.88% rise in its stock.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 12:06 pm

Enovix (NASDAQ:ENVX) has received mixed analyst ratings over the past three months, with a recent shift towards a more bullish outlook. The average 12-month price target for ENVX has increased by 25.56% to $22.6, reflecting positive sentiment. Analyst actions include adjustments to ratings and price targets, with notable mentions from JP Morgan, Cantor Fitzgerald, EF Hutton, and Canaccord Genuity. Enovix's financial performance shows significant revenue growth but challenges in profitability and debt management.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 4:01 pm

JP Morgan analyst Bill Peterson maintains an Overweight rating on Enovix (NASDAQ:ENVX) but lowers the price target from $18 to $12.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:13 pm

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

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 2:08 pm

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