Enovix price target raised to $15 from $12 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Enovix (ENVX) to $15 from $12 and keeps a Buy rating on the shares after the company released preliminary June results with revenue and adjusted EBITDA both exceeding the midpoint of previous guidance. The firm believes the beat was largely driven by the company’s Korean divisions. He also highlights the company launched their AI-1, artificial intelligence focused, battery for next generation smartphone applications and have already begun sampling. Enovix also announced a warrant dividend for shareholders on the record date of July 17th, 2025. Investors will receive one warrant, exercisable at $8.75, for every 7 common shares. The warrants will expire October 1st, 2026, unless Enovix’s VWAP equals or exceeds $10.50 for 20/30 consecutive trading days, then the warrants could be called.