Enovix Corp is a technology company that specializes in the development and manufacturing of advanced lithium-ion battery solutions
The company focuses on creating high-performance batteries that offer increased energy density and improved safety compared to traditional lithium-ion batteries. Enovix aims to revolutionize various industries, including consumer electronics and electric vehicles, by providing innovative energy storage solutions that meet the growing demand for longer-lasting, efficient, and reliable power sources. Through its proprietary technologies and manufacturing processes, Enovix strives to push the boundaries of battery performance and sustainability.
Enovix reported fourth-quarter revenue of $9.72 million, beating analyst estimates of $8.77 million, according to Benzinga Pro. The company reported a fourth-quarter adjusted loss of 11 cents per share, beating estimates for a loss of 18 cents per share.
J.P. Morgan analyst Bill Peterson maintains an Overweight rating on Enovix with a $15 price target. Peterson expects the company's Q4 results to meet expectations, with positive updates on customer discussions, order pipeline, and product development.
Enovix Corp (NASDAQ:ENVX) shares are trading higher Tuesday after the company announced it completed site acceptance testing of Fab2 and secured a landmark purchase order.
Enovix Corp. shares are rising in extended trading Monday after the company announces the completion of site acceptance testing for its Fab2 in Malaysia.
Shares of Enovix Corporation (NASDAQ: ENVX) are trading higher Friday. The company reported it has shipped its first samples of the second-generation EX-2M battery to mobile phone customers. Here's what you need to know.
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