Enovix Corporation [NASDAQ: ENVX] loss -3.76% or -0.46 points to close at $11.78 with a heavy trading volume of 6730433 shares. The company report on February 20, 2024 at 4:01 PM that Enovix Announces Fourth Quarter and Full Year 2023 Financial Results.
The daily chart for ENVX points out that the company has recorded -16.16% loss over the past six months.
If we look at the average trading volume of 3.94M shares, ENVX reached to a volume of 6730433 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 $20.50 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 1.22. 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. While these analysts kept the previous recommendation, TD Cowen raised their target price from $19 to $20. The new note on the price target was released on July 21, 2023, representing the official price target for Enovix Corporation stock. Previously, the target price had yet another raise to $20, while Canaccord Genuity analysts kept a Buy rating on ENVX stock.
The Average True Range (ATR) for Enovix Corporation is set at 0.76, with the Price to Sales ratio for ENVX stock in the period of the last 12 months amounting to 1453.18. The Price to Book ratio for the last quarter was 7.54, with the Price to Cash per share for the same quarter was set at 2.21.
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 -2.24. With this latest performance, ENVX shares gained by 22.71% in over the last four-week period, additionally sinking by -16.16% over the last 6 months – not to mention a rise of 34.32% 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 56.83, with the RSI for the last a single of trading hit 59.72, and the three-weeks RSI is set at 54.43 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 11.72 for the last single week of trading, and 13.23 for the last 200 days.
Enovix Corporation [ENVX]: A deeper dive into fundamental analysis
Enovix Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.51 and a Current Ratio set at 8.52.
Enovix Corporation [ENVX]: An earnings per share (EPS) analysis
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.
An analysis of Institutional ownership at 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%.
