Wall Street Analyst Downgrade Enovix Corporation [ENVX]. What else is Wall St. saying

Enovix Corporation [NASDAQ: ENVX] traded at a high on 11/14/23, posting a 7.88 gain after which it closed the day’ session at $11.22. The company report on November 7, 2023 at 4:01 PM that Enovix Announces Third Quarter 2023 Financial Results.

The results of the trading session contributed to over 5550091 shares changing hands. Over the past one week, the price volatility of Enovix Corporation stands at 7.52% while the volatility over the past one month is 7.09%.

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The market cap for ENVX stock reached $1.88 billion, with 157.46 million shares outstanding and 135.12 million shares in the current float. Compared to the average trading volume of 4.77M shares, ENVX reached a trading volume of 5550091 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 $29.18 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 1.18. 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.

TD Cowen have made an estimate for Enovix Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on July 21, 2023.

The Average True Range (ATR) for Enovix Corporation is set at 0.86, with the Price to Sales ratio for ENVX stock in the period of the last 12 months amounting to 1384.10. The Price to Book ratio for the last quarter was 7.18, with the Price to Cash per share for the same quarter was set at 2.21.

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 9.57. With this latest performance, ENVX shares gained by 4.96% in over the last four-week period, additionally sinking by -9.37% over the last 6 months – not to mention a drop of -17.56% 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 55.35, with the RSI for the last a single of trading hit 60.32, and the three-weeks RSI is set at 51.37 for Enovix Corporation [ENVX]. The present Moving Average for the last 50 days of trading for this stock 11.36, while it was recorded at 10.90 for the last single week of trading, and 13.03 for the last 200 days.

Enovix Corporation [ENVX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Enovix Corporation [ENVX] shares currently have an operating margin of -2048.66 and a Gross Margin at -274.70. Enovix Corporation’s Net Margin is presently recorded at -832.34.

Return on Total Capital for ENVX is now -36.31, given the latest momentum, and Return on Invested Capital for the company is -14.75. Return on Equity for this stock declined to -15.13, with Return on Assets sitting at -11.14. When it comes to the capital structure of this company, Enovix Corporation [ENVX] has a Total Debt to Total Equity ratio set at 2.31. Additionally, ENVX Total Debt to Total Capital is recorded at 2.26, with Total Debt to Total Assets ending up at 1.86. Long-Term Debt to Equity for the company is recorded at 2.31, with the Long-Term Debt to Total Capital now at 2.26.

Reflecting on the efficiency of the workforce at the company, Enovix Corporation [ENVX] managed to generate an average of -$154,096 per employee. Receivables Turnover for the company is 14.26 with a Total Asset Turnover recorded at a value of 0.01.Enovix Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.51 and a Current Ratio set at 8.52.

Insider trade positions for Enovix Corporation [ENVX]

The top three institutional holders of ENVX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ENVX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ENVX stock with ownership which is approximately 5.7994%.