Enovix Corporation [ENVX] Revenue clocked in at $1.36 million, down -21.41% YTD: What’s Next?

Enovix Corporation [NASDAQ: ENVX] jumped around 0.7 points on Tuesday, while shares priced at $9.84 at the close of the session, up 7.66%. The company report on January 30, 2024 at 4:01 PM that Enovix to Release Fourth Quarter and Full Year 2023 Financial Results on February 20, 2024.

Enovix will hold a live video call at 2:00 PM PT / 5:00 PM ET on February 20, 2024, to discuss the company’s business updates, key milestones, and financial results. To join the call, participants must use the following link to register: https://enovix-q42023.open-exchange.net/. This link will also be available via the Investor Relations section of Enovix’s website at https://ir.enovix.com. Investors may also submit questions on the registration page that they would like addressed on the call by Enovix management.

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Compared to the average trading volume of 4.11M shares, ENVX reached a trading volume of 3964036 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 $28.67 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 1.15. 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.

William Blair have made an estimate for Enovix Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 18, 2023.

The Average True Range (ATR) for Enovix Corporation is set at 0.68, with the Price to Sales ratio for ENVX stock in the period of the last 12 months amounting to 1213.87. The Price to Book ratio for the last quarter was 6.30, 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 0.72. With this latest performance, ENVX shares dropped by -19.28% in over the last four-week period, additionally sinking by -44.06% over the last 6 months – not to mention a rise of 8.25% 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 43.51, with the RSI for the last a single of trading hit 46.49, and the three-weeks RSI is set at 43.41 for Enovix Corporation [ENVX]. The present Moving Average for the last 50 days of trading for this stock 11.50, while it was recorded at 9.47 for the last single week of trading, and 13.24 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 8.51 and a Current Ratio set at 8.52.

Earnings analysis for Enovix Corporation [ENVX]

With the latest financial reports released by the company, Enovix Corporation posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.16/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ENVX.

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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ENVX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ENVX stock with ownership which is approximately 5.8325%.