Stock Price & Analysis

Buy ENVX stock as it has strong buy ratings from analysts with significant upside potential.

The price prediction for ENVX stock in 2025 is expected to range between $6.40 and $9.24, driven by technical levels and growth prospects.

ENVX stock is currently trading at $8.79 with a Fibonacci pivot at $7.82. The stock has resistance levels at $8.36 (R1) and $8.69 (R2), with support levels at $7.28 (S1) and $6.94 (S2).

Analysts maintain a Buy rating with an average price target of $15.00, reflecting confidence in the company's growth trajectory, particularly in smartphone battery orders and industrial demand. However, insider sales by the CEO and mixed institutional sentiment may impact short-term price movements.

The stock is expected to test $9.24 if it breaks above $8.37, while a drop below $7.28 could trigger a decline to $6.40.

The S1 support level for ENVX Stock is $7.21 ,The R1 resistant level for ENVX Stock is $8.83.

As of the end of day on 2025-04-02, the price of ENVX Stock was $7.29.

The target price for ENVX Stock according to analyst rating is 22.00, with the highest price target at 36.00 and the lowest at 10.00. Analysts have a Strong Buy rating on ENVX Stock overall.

The market cap of ENVX is $1.4B.

ENVX may be overvalued based on high valuation metrics and limited profitability despite revenue growth. Here's the analysis:

1. Valuation Metrics: ENVX has a high price-to-sales (PS) ratio of 78.34 for Q3 2024 and 85.57 for Q4 2024, indicating a premium relative to its revenues. The price-to-book (PB) ratio is also elevated at 10.11 and 8.71, suggesting the market values its assets highly.

2. Financial Performance: While ENVX reported record Q4 2024 revenues of $9.7 million, a 200% year-over-year increase, it still operates at a net loss. The gross margin of 11% is positive but low, indicating room for improvement in profitability.

3. Analyst Sentiment: Analysts have mixed views. Craig-Hallum lowered the price target to $18 but maintained a Strong Buy, while J.P. Morgan has a more conservative target of $15. The average target of $20.67 suggests potential upside, reflecting expected growth.

4. Insider and Institutional Activity: The CEO's recent sale of 300,000 shares may signal reduced confidence, though institutional investors are increasing their positions, indicating optimism.

In conclusion, while ENVX's growth prospects are promising, particularly in smartphone batteries, the high valuation and lack of profitability suggest it may be overvalued. Investors should consider these factors carefully.

Enovix Corporation designs, develops, manufactures, and commercializes next generation Lithium-ion (Li-ion) battery cells that significantly increase the amount of energy density and storage capacity. The Company’s product roadmap consists of future nodes at higher levels of energy density. The Company delivers commercial cells from Fab1, which features a first-of-its-kind line for battery production. Its BrakeFlow, an intra-cell system that increases abuse tolerance. It serves applications, such as wearable and Internet of things (IoT) cell, laptop and mobile cell, industrial and mobile cell, and industrial cell. The Company provides vertical integration of electrode coating and battery pack manufacturing. The Company operates its lithium-ion battery business with two factories in Korea.

Enovix (ENVX) is expected to reach a stock price of $50 by 2030, driven by its strong position in the lithium-ion battery market and anticipated growth in smartphone and industrial applications. The company's focus on high-energy-density battery technology and expanding manufacturing capabilities position it well for long-term success.

ENVX has a total of 560 employees.