Enovix Corp (ENVX) Comes Under The Focus Of Analysts

We recently published 9 Best Battery Stocks to Buy Before They Explode. Enovix Corporation (NASDAQ:ENVX) is one of the best battery stocks to buy before they explode.

Enovix Corporation (NASDAQ:ENVX)’s price target was cut by Craig-Hallum on February 26th. The firm cut the battery company’s price target to $10 from $16 and kept a Buy rating, as per The Fly. Craig-Hallum outlined that while Enovix Corporation (NASDAQ:ENVX) could introduce next-generation batteries in the smartphone industry, investors should also focus on the firm’s production timelines due to troubles with laser dicing. Like Craig-Hallum, analysts at Cannacord Genuity also cut Enovix Corporation (NASDAQ:ENVX)’s share price target on February 26th. They reduced the target to $15 from $21.

As part of its fourth quarter earnings report, Enovix Corporation (NASDAQ:ENVX) reported $11.3 million in revenue for the quarter and $31.8 million for the full year. The firm outlined that it remained focused on qualifying its batteries for an important customer. Additionally, on the topic of volume production, Enovix Corporation (NASDAQ:ENVX) shared that it was focusing on dicing techniques at its factory in Malaysia.

Enovix Corporation (NASDAQ:ENVX) is a lithium-ion battery manufacturer that caters to the needs of the consumer technology and electric vehicle industries.

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