Enovix Corporation [NASDAQ: ENVX] price surged by 1.94 percent to reach at $0.23.
The one-year ENVX stock forecast points to a potential upside of 58.88. The average equity rating for ENVX stock is currently 1.17, trading closer to a bullish pattern in the stock market.
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Guru’s Opinion on 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 0.80, with the Price to Sales ratio for ENVX stock in the period of the last 12 months amounting to 128.44. The Price to Book ratio for the last quarter was 12.46, with the Price to Cash per share for the same quarter was set at 1.42.
ENVX Stock Performance Analysis:
Enovix Corporation [ENVX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.66. With this latest performance, ENVX shares gained by 52.33% in over the last four-week period, additionally plugging by 63.87% over the last 6 months – not to mention a rise of 21.46% 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 67.64, with the RSI for the last a single of trading hit 76.11, and the three-weeks RSI is set at 61.05 for Enovix Corporation [ENVX]. The present Moving Average for the last 50 days of trading for this stock 10.08, while it was recorded at 10.70 for the last single week of trading, and 10.56 for the last 200 days.
Insight into Enovix Corporation 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.
ENVX Stock EPS
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.
Enovix Corporation [ENVX] Institutonal Ownership Details
There are presently around $48.80%, or 57.53%% 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%.
