Enovix Corporation [NASDAQ: ENVX] gained 6.55% on the last trading session, reaching $10.09 price per share at the time.
If compared to the average trading volume of 4.94M shares, ENVX reached a trading volume of 11936404 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 $27.58 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. 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 0.71, with the Price to Sales ratio for ENVX stock in the period of the last 12 months amounting to 132.99. The Price to Book ratio for the last quarter was 7.47, with the Price to Cash per share for the same quarter was set at 1.54.
Trading performance analysis for ENVX stock
Enovix Corporation [ENVX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 56.19. With this latest performance, ENVX shares gained by 30.53% in over the last four-week period, additionally plugging by 11.49% over the last 6 months – not to mention a drop of -12.41% 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 72.41, with the RSI for the last a single of trading hit 81.49, and the three-weeks RSI is set at 65.14 for Enovix Corporation [ENVX]. The present Moving Average for the last 50 days of trading for this stock 7.91, while it was recorded at 7.76 for the last single week of trading, and 11.38 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 4.77 and a Current Ratio set at 4.89.
An analysis of Institutional ownership at Enovix Corporation [ENVX]
The top three institutional holders of ENVX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ENVX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ENVX stock with ownership which is approximately 5.8386%.
