Enovix
ENVX
Market cap $1.6B

8.48 USD

-0.37

4.18%

At close Nov 15, 4:00 PM EST

After hours

8.51

+0.03

0.35%

1 day

-4.18%

5 days

-11.94%

1 month

-28.92%

3 months

-20.45%

6 months

-9.21%

Year to date

-30.61%

1 year

-26.96%

5 years

-52.17%

10 years

-52.17%

About: Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.

Employees: 561

Industrials Miscellaneous Electrical Machinery, Equipment & Supplies

0

Funds holding %

of 6,704 funds

0

Analysts bullish %

of 5 analysts

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

64% more call options, than puts

Call options by funds: $178M | Put options by funds: $108M

49% more repeat investments, than reductions

Existing positions increased: 115 | Existing positions reduced: 77

19% more first-time investments, than exits

New positions opened: 51 | Existing positions closed: 43

3% more funds holding

Funds holding: 275 [Q2] → 283 (+8) [Q3]

2.01% less ownership

Funds ownership: 51.2% [Q2] → 49.19% (-2.01%) [Q3]

40% less capital invested

Capital invested by funds: $1.35B [Q2] → $811M (-$534M) [Q3]

86% less funds holding in top 10

Funds holding in top 10: 7 [Q2] → 1 (-6) [Q3]

See Fund Rankings

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$10

18%

upside

Avg. target

$23

174%

upside

High target

$36

325%

upside

5 analyst ratings

4 positive

80%

1 neutral

20%

0 negative

0%

Janney Montgomery Scott Sean Milligan 67% 1-year accuracy 2 / 3 met price target	18%upside $10	Neutral Downgraded	31 Oct 2024
Cantor Fitzgerald Derek Soderberg 25% 1-year accuracy 6 / 24 met price target	254%upside $30	Overweight Reiterated	30 Oct 2024
Benchmark Michael Legg 43% 1-year accuracy 20 / 47 met price target	195%upside $25	Buy Reiterated	30 Oct 2024
JP Morgan Bill Peterson 38% 1-year accuracy 10 / 26 met price target	77%upside $15	Overweight Maintained	22 Oct 2024
Oppenheimer Colin Rusch 36% 1-year accuracy 13 / 36 met price target	325%upside $36	Outperform Maintained	26 Aug 2024

See Analyst Rankings

Financial journalist opinion

Based on 12 articles about ENVX published over the past 30 days

Enovix to Participate in Upcoming Investor Events

FREMONT, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, announced today its participation in the following upcoming investor events:

Enovix to Participate in Upcoming Investor Events

Enovix Completes $100 Million Equity Offering

FREMONT, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, announced today that it completed a secondary equity offering. On Friday November 1, the Company received approximately $96 million dollars net of fees related to the transaction. As a result, the Company now expects to close 2024 with cash levels of approximately $245 million, compared to the prior expectation of $150 million.

Enovix Completes $100 Million Equity Offering

Enovix Targets Silicon Anode Battery Launch As AI Drives Demand

Enovix Co. NASDAQ: ENVX develops and manufactures next-generation silicon-anode lithium-ion batteries with applications in the smartphone, wearables, mobile device, VR/AR headset, laptop, IoT and electric vehicle (EV) markets. While the oils/energy sector company is producing batteries on a small scale now, it plans to ramp up mass production by the fourth quarter of 2025 at its new high-volume manufacturing Fab2 facility in Penang, Malaysia.

Enovix Targets Silicon Anode Battery Launch As AI Drives Demand

Zacks Investment Research

Here's Why Enovix Corporation (ENVX) Is a Great 'Buy the Bottom' Stock Now

After losing some value lately, a hammer chart pattern has been formed for Enovix Corporation (ENVX), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.

Here's Why Enovix Corporation (ENVX) Is a Great 'Buy the Bottom' Stock Now

Enovix: Surprise Capital Raise Not Likely To Bode Well With Investors - Sell

Advanced lithium-ion battery manufacturer Enovix reported Q3/2024 results in line with muted expectations. As the company continues to invest in its Malaysian manufacturing operations, cash burn remains elevated. While the company's financial performance was nothing to write home about, investors cheered the announcement of a new development agreement with a leading Chinese smartphone OEM. On the conference call, management reiterated expectations for high volume manufacturing to ramp in late 2025 and rising exponentially in 2026.

Enovix: Surprise Capital Raise Not Likely To Bode Well With Investors - Sell

Enovix Announces Pricing of Public Offering of Common Stock

FREMONT, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (NASDAQ: ENVX), a global high-performance battery company, today announced the pricing of an underwritten public offering of 10,416,667 shares of its common stock for total gross proceeds of $100 million before deducting underwriting discounts and commissions and estimated offering expenses payable by Enovix. The offering is expected to close on November 1, 2024, subject to satisfaction of customary closing conditions. All of the shares of common stock in the offering will be sold by Enovix.

Enovix Announces Pricing of Public Offering of Common Stock

Enovix Announces Proposed Public Offering of Common Stock

FREMONT, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (NASDAQ: ENVX), a global high-performance battery company, today announced that it has commenced an underwritten public offering of $100.0 million of shares of its common stock, subject to market and other conditions. In connection with the offering, Enovix expects to grant the underwriter a 30-day option to purchase up to an additional $15.0 million of the shares of common stock offered in the public offering. There can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares of common stock in the offering will be sold by Enovix.

Enovix Announces Proposed Public Offering of Common Stock

Enovix Corporation (ENVX) Q3 2024 Earnings Call Transcript

Enovix Corporation (NASDAQ:ENVX ) Q3 2024 Earnings Conference Call October 29, 2024 5:00 PM ET Company Participants Robert Lahey - Head-Investor Relations Raj Talluri - President & Chief Executive Officer Farhan Ahmad - Chief Financial Officer Ajay Marathe - Chief Operating Officer Conference Call Participants Ananda Baruah - Loop Capital Markets Colin Rusch - Oppenheimer Bill Peterson - JPMorgan George Gianarikas - Canaccord Gus Richard - Northland Gabe Daoud - Cowen Derek Soderberg - Cantor Sean Milligan - Janney Mark Shooter - William Blair Tony Stoss - Craig-Hallum Operator Thank you for standing by, and welcome to the Enovix Corporation Third Quarter 2024 Earnings Conference Call. Currently, all participants are in a listen-only mode.

Enovix Corporation (ENVX) Q3 2024 Earnings Call Transcript

Zacks Investment Research

Enovix Corporation (ENVX) Reports Q3 Loss, Tops Revenue Estimates

Enovix Corporation (ENVX) came out with a quarterly loss of $0.17 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.19 per share a year ago.

Enovix Corporation (ENVX) Reports Q3 Loss, Tops Revenue Estimates

Enovix and Leading Smartphone OEM Execute Development Agreement for Mass Production in 2025

FREMONT, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global high-performance battery company, announced today that it executed a development agreement with one of the leading global smartphone OEMs with top 5 market share in China. Under the terms of the agreement and subject to applicable milestones, the companies will develop a 100% active silicon anode battery customized for specific smartphone models targeted for launch in Q4 2025. The company now has agreements with 2 of the leading smartphone OEMs and has further sales momentum building in IoT and EV markets.

Enovix and Leading Smartphone OEM Execute Development Agreement for Mass Production in 2025

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