Enovix Corporation [NASDAQ: ENVX] traded at a low on Tuesday, posting a -2.30 loss after which it closed the day’ session at $10.19.
The results of the trading session contributed to over 3041020 shares changing hands. Over the past one week, the price volatility of Enovix Corporation stands at 5.09% while the volatility over the past one month is 8.93%.
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The market cap for ENVX stock reached $1.80 billion, with 167.39 million shares outstanding and 145.28 million shares in the current float. Compared to the average trading volume of 6.13M shares, ENVX reached a trading volume of 3041020 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 $29.45 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 1.17. 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.
The Benchmark Company have made an estimate for Enovix Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 22, 2024. While these analysts kept the previous recommendation, William Blair raised their target price to Outperform. The new note on the price target was released on December 18, 2023, representing the official price target for Enovix Corporation stock. Previously, the target price had yet another raise from $19 to $20, while TD Cowen kept a Market Perform rating on ENVX stock.
The Average True Range (ATR) for Enovix Corporation is set at 0.90, with the Price to Sales ratio for ENVX stock in the period of the last 12 months amounting to 108.08. The Price to Book ratio for the last quarter was 10.49, with the Price to Cash per share for the same quarter was set at 1.42.
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 0.79. With this latest performance, ENVX shares dropped by -28.89% in over the last four-week period, additionally plugging by 0.99% over the last 6 months – not to mention a drop of -26.85% 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 39.34, with the RSI for the last a single of trading hit 39.25, and the three-weeks RSI is set at 41.21 for Enovix Corporation [ENVX]. The present Moving Average for the last 50 days of trading for this stock 13.55, while it was recorded at 10.38 for the last single week of trading, and 10.92 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 3.84 and a Current Ratio set at 3.98.
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 -0.23/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.04. 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]
There are presently around $48.88%, or 57.62%% of ENVX stock, in the hands of institutional investors. The top three institutional holders of ENVX stocks are: VANGUARD GROUP INC with ownership of 13.3 million shares, which is approximately 8.3225%. BLACKROCK INC., holding 10.47 million shares of the stock with an approximate value of $$161.91 million in ENVX stocks shares; and BLACKROCK INC., currently with $$89.7 million in ENVX stock with ownership which is approximately 3.6303%.
