Market Analysts see Enovix Corporation [ENVX] gaining to $50. Time to buy?

Enovix Corporation [NASDAQ: ENVX] traded at a high on 08/09/22, posting a 5.18 gain after which it closed the day’ session at $14.41. The company report on August 4, 2022 that Enovix to Participate in Upcoming Investor Conferences.

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Enovix Corporation (“Enovix”) (Nasdaq: ENVX), the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries, today announced its participation in the following investor conferences in August and September:.

Piper Sandler Energy Transition Leaders SummitDate: Wednesday, August 17, 2022 – Thursday, August 18, 2022Location: Aspen, Colo.

The results of the trading session contributed to over 4292751 shares changing hands. Over the past one week, the price volatility of Enovix Corporation stands at 6.50% while the volatility over the past one month is 7.77%.

The market cap for ENVX stock reached $2.18 billion, with 151.65 million shares outstanding and 127.13 million shares in the current float. Compared to the average trading volume of 2.51M shares, ENVX reached a trading volume of 4292751 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 $23.80 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.

Loop Capital have made an estimate for Enovix Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 09, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on August 05, 2022, representing the official price target for Enovix Corporation stock. Previously, the target price had yet another raise to $32, while Cowen analysts kept a Outperform rating on ENVX stock.

The Average True Range (ATR) for Enovix Corporation is set at 0.87 The Price to Book ratio for the last quarter was 5.18, with the Price to Cash per share for the same quarter was set at 2.70.

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 8.10. With this latest performance, ENVX shares gained by 67.95% in over the last four-week period, additionally sinking by -6.37% over the last 6 months – not to mention a drop of -5.01% 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 69.65, with the RSI for the last a single of trading hit 72.68, and the three-weeks RSI is set at 65.83 for Enovix Corporation [ENVX]. The present Moving Average for the last 50 days of trading for this stock 11.25, while it was recorded at 13.98 for the last single week of trading, and 17.09 for the last 200 days.

Enovix Corporation [ENVX]: Deeper insight into the fundamentals

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 $1,205 million, or 53.90% 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 $213.07 million in ENVX stocks shares; and ELECTRON CAPITAL PARTNERS, LLC, currently with $101.83 million in ENVX stock with ownership of nearly 2.469% of the company’s market capitalization.

126 institutional holders increased their position in Enovix Corporation [NASDAQ:ENVX] by around 13,813,572 shares. Additionally, 37 investors decreased positions by around 13,107,768 shares, while 22 investors held positions by with 56,709,372 shares. The mentioned changes placed institutional holdings at 83,630,712 shares, according to the latest SEC report filing. ENVX stock had 53 new institutional investments in for a total of 6,181,881 shares, while 18 institutional investors sold positions of 10,555,929 shares during the same period.


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