Enovix Corporation [NASDAQ: ENVX] loss -3.77% on the last trading session, reaching $16.33 price per share at the time. The company report on October 17, 2022 that Enovix to Release Third Quarter 2022 Financial Results on November 1, 2022.
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Enovix will issue a press release shortly after 1:00 PM PT / 4:00 PM ET on Tuesday, November 1, 2022, announcing that it has posted its Letter to Shareholders with financial results and management commentary on its investor relations website at https://ir.enovix.com.
Enovix Corporation represents 152.52 million in outstanding shares, while the company has a total market value of $2.74 billion with the latest information. ENVX stock price has been found in the range of $16.01 to $16.69.
If compared to the average trading volume of 4.45M shares, ENVX reached a trading volume of 2785946 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $38.38 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.
Cantor Fitzgerald have made an estimate for Enovix Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 28, 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 September 20, 2022, representing the official price target for Enovix Corporation stock. Previously, the target price had yet another raise from $50 to $100, while Loop Capital kept a Buy rating on ENVX stock.
The Average True Range (ATR) for Enovix Corporation is set at 1.71, with the Price to Sales ratio for ENVX stock in the period of the last 12 months amounting to 537.45. The Price to Book ratio for the last quarter was 5.81, with the Price to Cash per share for the same quarter was set at 2.29.
Trading performance analysis for ENVX stock
Enovix Corporation [ENVX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.77. With this latest performance, ENVX shares dropped by -26.51% in over the last four-week period, additionally plugging by 51.48% over the last 6 months – not to mention a drop of -23.55% 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 39.28, with the RSI for the last a single of trading hit 34.52, and the three-weeks RSI is set at 43.05 for Enovix Corporation [ENVX]. The present Moving Average for the last 50 days of trading for this stock 20.33, while it was recorded at 16.93 for the last single week of trading, and 14.75 for the last 200 days.
Enovix Corporation [ENVX]: A deeper dive into fundamental analysis
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 22.70 and a Current Ratio set at 22.80.
An analysis of insider ownership at Enovix Corporation [ENVX]
There are presently around $1,584 million, or 59.40% 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 2.60% of the total institutional ownership; PARK WEST ASSET MANAGEMENT LLC, holding 14,724,426 shares of the stock with an approximate value of $240.45 million in ENVX stocks shares; and VANGUARD GROUP INC, currently with $165.28 million in ENVX stock with ownership of nearly 230.855% of the company’s market capitalization.
Positions in Enovix Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 124 institutional holders increased their position in Enovix Corporation [NASDAQ:ENVX] by around 25,509,854 shares. Additionally, 50 investors decreased positions by around 10,548,369 shares, while 24 investors held positions by with 60,971,437 shares. The mentioned changes placed institutional holdings at 97,029,660 shares, according to the latest SEC report filing. ENVX stock had 56 new institutional investments in for a total of 3,662,055 shares, while 18 institutional investors sold positions of 6,951,524 shares during the same period.