Enovix Shares Are Moving Higher After The Close: What's Going On?

Enovix Corp ENVX shares are trading higher in Thursday's after-hours session after the company announced it achieved its quarterly milestone of producing 18,000 cells ahead of schedule.

What To Know: Enovix said it has already reached its second-quarter guidance of 18,000 units manufactured out of its Fab1 location and now expects to exceed its previous outlook for the quarter. 

"Our team continues to execute against our aggressive goals. The principal enhancements that the operations team have incorporated including throughput and machine uptime have paid off," said Raj Talluri, president and CEO at Enovix.

Enovix also reiterated full-year 2023 guidance of 180,000 cells produced for customers from Fab1. 

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ENVX Price Action: Enovix shares were up 3.45% after hours at $14.10 at the time of publication, according to Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.