Enovix Corporation [ENVX] is -57.81% lower this YTD. Is it still time to buy?

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Enovix Corporation [NASDAQ: ENVX] traded at a high on 07/20/22, posting a 3.04 gain after which it closed the day’ session at $11.51. The company report on July 12, 2022 that Enovix Announces Shipment of Battery Packs.


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The results of the trading session contributed to over 3588565 shares changing hands. Over the past one week, the price volatility of Enovix Corporation stands at 9.59% while the volatility over the past one month is 7.98%.

The market cap for ENVX stock reached $1.75 billion, with 151.65 million shares outstanding and 127.08 million shares in the current float. Compared to the average trading volume of 2.64M shares, ENVX reached a trading volume of 3588565 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Enovix Corporation [ENVX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ENVX shares is $25.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ENVX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Enovix Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 04, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on December 17, 2021, representing the official price target for Enovix Corporation stock. Previously, the target price had yet another raise to $50, while Craig Hallum analysts kept a Buy rating on ENVX stock.

The Average True Range (ATR) for Enovix Corporation is set at 0.83 The Price to Book ratio for the last quarter was 4.14, with the Price to Cash per share for the same quarter was set at 2.69.

How has ENVX stock performed recently?

Enovix Corporation [ENVX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.30. With this latest performance, ENVX shares gained by 3.51% in over the last four-week period, additionally sinking by -33.77% over the last 6 months – not to mention a drop of -39.68% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENVX stock in for the last two-week period is set at 63.76, with the RSI for the last a single of trading hit 73.56, and the three-weeks RSI is set at 57.92 for Enovix Corporation [ENVX]. The present Moving Average for the last 50 days of trading for this stock 10.26, while it was recorded at 10.53 for the last single week of trading, and 17.68 for the last 200 days.

Enovix Corporation [ENVX]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -38.60, with Return on Assets sitting at -25.98.

Enovix Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 23.80 and a Current Ratio set at 23.80.

Insider trade positions for Enovix Corporation [ENVX]

There are presently around $945 million, or 53.10% of ENVX stock, in the hands of institutional investors. The top three institutional holders of ENVX stocks are: ECLIPSE VENTURES, LLC with ownership of 17,583,258, which is approximately 0% of the company’s market cap and around 2.70% of the total institutional ownership; PARK WEST ASSET MANAGEMENT LLC, holding 14,786,112 shares of the stock with an approximate value of $170.19 million in ENVX stocks shares; and ELECTRON CAPITAL PARTNERS, LLC, currently with $81.34 million in ENVX stock with ownership of nearly 2.469% of the company’s market capitalization.

Positions in Enovix Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 108 institutional holders increased their position in Enovix Corporation [NASDAQ:ENVX] by around 12,739,474 shares. Additionally, 37 investors decreased positions by around 13,144,096 shares, while 21 investors held positions by with 56,257,771 shares. The mentioned changes placed institutional holdings at 82,141,341 shares, according to the latest SEC report filing. ENVX stock had 37 new institutional investments in for a total of 5,208,137 shares, while 20 institutional investors sold positions of 10,683,400 shares during the same period.

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