Cantor Fitzgerald Predicts Enovix FY2025 Earnings

Enovix Co. (NASDAQ:ENVX) – Cantor Fitzgerald issued their FY2025 earnings per share estimates for shares of Enovix in a research report issued to clients and investors on Tuesday, January 21st. Cantor Fitzgerald analyst D. Soderberg forecasts that the company will post earnings of ($1.18) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $30.00 target price on the stock. The consensus estimate for Enovix’s current full-year earnings is ($1.17) per share.

A number of other brokerages have also recently issued reports on ENVX. Benchmark restated a “buy” rating and issued a $25.00 target price on shares of Enovix in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Janney Montgomery Scott cut Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Enovix Stock Performance

ENVX opened at $11.44 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.77 and a quick ratio of 3.61. The stock’s fifty day moving average is $10.16 and its 200-day moving average is $10.88. Enovix has a one year low of $5.70 and a one year high of $18.68.

Enovix (NASDAQ:ENVX) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Enovix had a negative return on equity of 102.19% and a negative net margin of 1,180.21%. The company had revenue of $4.30 million for the quarter, compared to the consensus estimate of $4.11 million. During the same quarter in the previous year, the business earned ($0.27) EPS.

Hedge Funds Weigh In On Enovix

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENVX. Fifth Third Bancorp grew its stake in shares of Enovix by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 2,500 shares of the company’s stock valued at $27,000 after purchasing an additional 1,000 shares during the period. Wealthcare Advisory Partners LLC increased its position in shares of Enovix by 6.2% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,952 shares of the company’s stock valued at $228,000 after buying an additional 1,214 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Enovix by 6.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,656 shares of the company’s stock valued at $202,000 after buying an additional 1,367 shares in the last quarter. Clear Creek Financial Management LLC increased its holdings in Enovix by 3.0% during the 3rd quarter. Clear Creek Financial Management LLC now owns 48,200 shares of the company’s stock worth $450,000 after purchasing an additional 1,400 shares in the last quarter. Finally, LJI Wealth Management LLC increased its holdings in Enovix by 2.1% during the 3rd quarter. LJI Wealth Management LLC now owns 73,900 shares of the company’s stock worth $690,000 after purchasing an additional 1,500 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the transaction, the director now directly owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.70% of the stock is owned by 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.