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

9.17

Mkt cap

1.7B

Volume

4.9M

High

9.39

P/E Ratio

-6.17

52-wk high

18.68

Low

8.93

Div yield

N/A

52-wk low

5.70

Enovix Corp (NASDAQ:ENVX) shares surged after announcing significant progress at its Fab2 manufacturing facility, including completing Factory Acceptance Testing for its Gen2 Agility Line. This development puts Enovix on track for initial sample production of silicon battery cells in Q2. The company's unique manufacturing process enables the use of a 100% active silicon anode, promising higher energy density for batteries. Enovix is also expected to report its Q1 financial results soon, with analysts predicting an earnings loss of 29 cents per share on revenue of $3.877 million.

Portfolio Pulse from Adam Eckert

April 16, 2024 | 1:31 pm

Enovix shares are trading higher following the completion of Factory Acceptance Testing for its Gen2 Agility Line, indicating progress in its manufacturing capabilities.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 1:03 pm

In Tuesday's pre-market session, several industrials stocks showed significant movement. Dragonfly Energy Holdings (DFLI) and Agrify (AGFY) reported Q4 earnings, leading to a 56.0% increase in DFLI's stock to $0.7 and an 8.69% rise in AGFY's stock to $0.32. Markforged Holding (MKFG), Enovix (ENVX), noco-noco (NCNC), and Castor Maritime (CTRM) also saw gains. Conversely, Skillsoft (SKIL) reported Q4 earnings, resulting in a 19.6% decrease in its stock to $7.4. Complete Solaria (CSLR), Flux Power Holdings (FLUX), Lennox Intl (LII), Erayak Power Solution Gr (RAYA), and NN (NNBR) experienced declines.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 12:07 pm

Enovix Corporation (NASDAQ:ENVX), a leading battery company, has successfully completed Factory Acceptance Testing for its Gen2 Agility Line and plans to produce its first silicon battery samples in Q2 2024 from its new factory, Fab2. This marks a significant step in utilizing a 100% active silicon anode for higher energy density in batteries, aimed at mobile and IoT markets.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 11:34 am

Shares of companies in the materials sector are down due to overall market weakness, affecting a broad range of companies.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:52 pm

Enovix Corporation (NYSE:ENVX) has seen a 5.66% increase in its short percent of float since the last report, reaching 26.53% of all shares available for trading. With 38.68 million shares sold short, it would take about 8.1 days for traders to cover their short positions. This rise in short interest indicates a more bearish market sentiment towards ENVX, although it doesn't necessarily predict a near-term price drop. Compared to its peers, ENVX has a significantly higher short interest, with the peer group average at 10.02%.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 4:00 pm

Enovix has been granted a 15-year Pioneer Status by the Malaysian Investment Development Authority for its high-volume manufacturing facility, which is expected to significantly boost its production capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:32 am

Enovix Corporation (NYSE:ENVX) has seen a 5.52% increase in its short percent of float since the last report, reaching 24.67% of all shares available for trading. With 35.69 million shares sold short, it would take about 8.87 days for traders to cover their short positions. This rise in short interest indicates a more bearish market sentiment towards Enovix, although it's higher than the peer group average of 9.10% short interest as a percentage of float.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 8:30 pm

Enovix shares dropped following the announcement of disappointing Q4 adjusted EPS results and Q1 guidance that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:37 pm

EF Hutton analyst Tim Moore has reiterated a Buy rating on Enovix (NASDAQ:ENVX) and maintained a $24 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 4:20 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.