Cantor Fitzgerald Lowers Earnings Estimates for Enovix

Enovix Co. (NASDAQ:ENVX) – Stock analysts at Cantor Fitzgerald cut their FY2025 earnings estimates for shares of Enovix in a research note issued to investors on Thursday, March 27th. Cantor Fitzgerald analyst D. Soderberg now expects that the company will post earnings per share of ($0.83) for the year, down from their prior estimate of ($0.82). Cantor Fitzgerald has a “Overweight” rating and a $30.00 price objective on the stock. The consensus estimate for Enovix’s current full-year earnings is ($1.01) per share.

Separately, Craig Hallum reduced their price objective on shares of Enovix from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.30.

Enovix Trading Up 1.4 %

ENVX opened at $7.44 on Monday. Enovix has a 12 month low of $5.70 and a 12 month high of $18.68. The stock has a fifty day moving average price of $9.77 and a 200-day moving average price of $10.02. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -5.13 and a beta of 1.93. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.

Enovix (NASDAQ:ENVX) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $9.72 million during the quarter, compared to the consensus estimate of $8.77 million. Enovix had a negative net margin of 963.17% and a negative return on equity of 96.99%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ENVX. Fifth Third Bancorp increased its holdings in Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock worth $27,000 after buying an additional 1,000 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in shares of Enovix in the fourth quarter worth $27,000. Sava Infond d.o.o. purchased a new position in shares of Enovix during the fourth quarter worth $43,000. Hollencrest Capital Management lifted its position in Enovix by 61.4% during the fourth quarter. Hollencrest Capital Management now owns 5,256 shares of the company’s stock valued at $57,000 after purchasing an additional 2,000 shares during the period. Finally, R Squared Ltd purchased a new stake in Enovix in the fourth quarter valued at $64,000. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enovix

In other Enovix news, CEO Rajendra K. Talluri sold 300,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $9.35, for a total transaction of $2,805,000.00. Following the sale, the chief executive officer now owns 2,045,301 shares in the company, valued at approximately $19,123,564.35. The trade was a 12.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.70% of the stock is currently owned by company insiders.

Enovix Company Profile

Enovix Corporation designs develops and manufactures silicon-anode lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.