Enovix (NASDAQ:ENVX) Posts Earnings Results, Beats Expectations By $0.01 EPS

Enovix (NASDAQ:ENVX) released its quarterly earnings results on Wednesday. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.01, Zacks reports. Enovix had a negative net margin of 1,180.21% and a negative return on equity of 102.19%. Enovix updated its Q1 2025 guidance to -0.210–0.150 EPS.

Enovix Stock Performance

NASDAQ ENVX opened at $11.19 on Thursday. The company has a fifty day moving average of $11.06 and a two-hundred day moving average of $10.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77. Enovix has a 1 year low of $5.70 and a 1 year high of $18.68.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ENVX. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price objective on shares of Enovix in a report on Wednesday, October 30th. Benchmark restated a “buy” rating and set a $25.00 price target on shares of Enovix in a research note on Wednesday, October 30th. Finally, Janney Montgomery Scott downgraded Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Thursday, October 31st. Two equities research 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.50.

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now directly owns 99,497 shares in the company, valued at $968,105.81. This trade represents a 42.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 15.70% of the stock is currently owned by company insiders.

About Enovix

Enovix Corporation designs, develops, and manufactures 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.