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 shares rose after the company reported better-than-expected Q3 adjusted EPS and announced a development agreement with a leading smartphone OEM in China.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:21 pm

Enovix Corporation (NASDAQ:ENVX) has signed a development agreement with a leading smartphone OEM in China to produce a 100% active silicon anode battery for smartphones by Q4 2025. This marks Enovix's second agreement with a top smartphone OEM, indicating growing momentum in the IoT and EV markets.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:09 pm

Enovix reported better-than-expected Q3 2024 results with an adjusted EPS of $(0.17), beating the estimate of $(0.20), and sales of $4.317 million, surpassing the $4.110 million estimate. This marks a significant sales increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 8:08 pm

Enovix (NASDAQ:ENVX) is set to announce its quarterly earnings on October 29, 2024. Analysts expect an EPS of $-0.20. Despite a past EPS beat, the stock dropped 19.15% last quarter. Enovix has an 'Outperform' rating with a $22 price target, indicating a potential 111.34% upside. The company shows strong revenue growth but struggles with profitability and debt management.

Portfolio Pulse from Benzinga Insights

October 28, 2024 | 7:03 pm

Enovix Corp (NASDAQ:ENVX) is set to release its Q3 earnings, with analysts predicting a 20-cent loss per share and $4.11 million in revenue. Despite a 60% stock increase over six months, technical indicators suggest short-term bearish momentum. High short interest could lead to a short squeeze if positive news emerges, but technical signals show potential selling pressure.

Portfolio Pulse from Surbhi Jain

October 28, 2024 | 12:42 pm

Benzinga's recent analysis highlights key stock movements and predictions. Nvidia's new AI model outperforms competitors, boosting its AI software strategy. Dogecoin is predicted to rise if Bitcoin breaks key levels. Analysts recommend Plug Power and EVgo for election-related volatility. Goldman Sachs forecasts low S&P 500 returns due to market concentration. Lucid's CEO doubts Tesla's self-driving timeline, and Peter Schiff warns of a potential crash for MicroStrategy due to Bitcoin reliance.

Portfolio Pulse from Michael Cohen

October 26, 2024 | 12:29 pm

FuzzyPandaPA has posted on X that Enovix Corporation (ENVX) is a short for them, but it is not associated with FuzzyPandaShort.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2024 | 4:01 pm

Analysts have varied opinions on Enovix (NASDAQ:ENVX), with recent ratings showing a mix of bullish and somewhat bullish sentiments. The average 12-month price target has increased slightly to $22.0. Analysts have adjusted their ratings and price targets, reflecting their views on Enovix's market performance and financial challenges.

Portfolio Pulse from Benzinga Insights

October 22, 2024 | 9:01 pm

In the past three months, 7 analysts have provided ratings for Enovix (NASDAQ:ENVX), ranging from bullish to bearish. The average 12-month price target is $22.0, with a high of $36.00 and a low of $14.00. Recent analyst actions include both raises and lowers in ratings and price targets. Enovix has shown significant revenue growth but faces challenges in profitability and debt management.

Portfolio Pulse from Benzinga Insights

October 22, 2024 | 7:01 pm

JP Morgan analyst Bill Peterson maintains an Overweight rating on Enovix (NASDAQ:ENVX) but lowers the price target from $18 to $15.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 4:57 pm

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