Enovix Corporation (NASDAQ:ENVX) finished Thursday with a subtraction of -$2.09 to close at $19.79, a downside of -9.55 percent. An average of 5,197,760 shares of common stock have been traded in the last five days. There was a fall of -$4.69 in the past week, and it reached a new high 19 times over the past 12 months. The last 20 days have seen an average of 5,584,205 shares traded, while the 50-day average volume stands at 4,711,434.
ENVX stock has decreased by -7.22% in the last month. The company shares reached their 1-month lowest point of $18.33 on 09/06/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $7.26 and a high of $39.48 in 52 weeks. It has reached a new high 1 time so far this year and lost -27.46% or -$7.49 in price. In spite of this, the price is down -49.87% from the 52-week high.
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8 days have passed since Enovix Corporation (ENVX) last reported insider trading activity. Lahiri Ashok, who is Chief Technology Officer, most recently acquired $10,000 shares at $25.00 per share on Sep 15. In this transaction, the insider spent $250,000. President and CEO, RUST HARROLD J, disposed of 3,000 shares at a price of $24.50 on Sep 15. The insider now owns more than $73,500 worth of shares. Prior to that, President and CEO RUST HARROLD J went on to Sale 4,500 shares at $20.46 each on Sep 13. An amount of $92,070 was transacted.
The quick ratio of Enovix Corporation for the three months ended March 30 was 22.70, and the current ratio was 22.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending March 30. Its gross profit as reported stood at $68.52 million compared to revenue of $1.97 million.
The company posted a net income of -$1.14 million in the quarter, while revenues of $42.71 million were shrunk -10263.16%. The analyst consensus anticipated Enovix Corporation’s latest quarter earnings to come in at -$0.16 per share, but it turned out to be -$0.13, a 18.80% surprise. For the quarter, EBITDA amounted to -$26.68 million. Shareholders own equity worth $157.15 million.
From a technical analysis perspective, let’s take a brief look at Enovix Corporation (ENVX) price momentum. RSI 9-day as of the close on 22 September was 41.35%, suggesting the stock is Neutral, with historical volatility in this time frame at 105.25%.
As of today, ENVX’s price is $21.68 -19.16% or -$4.69 from its 5-day moving average. ENVX is currently trading -19.59% lower than its 20-day SMA and +118.92% higher than its 100-day SMA. However, the stock’s current price level is +113.71% above the SMA50 and -37.23% below the SMA200.
The stochastic %K and %D were 37.22% and 45.39%, respectively, and the average true range (ATR) was 2.39. With the 14-day stochastic at 18.32% and the average true range at 2.29, the RSI (14) stands at 47.00%. The stock has reached -1.00 on the 9-day MACD Oscillator while the 14-day reading was at -0.11.
The consensus rating for Enovix Corporation (ENVX) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ENVX, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 7 others rate it as a “buy”.
What is ENVX’s price target for the next 12 months?
Analysts predict a range of price targets between $25.00 and $100.00, with a median target of $29.00. Taking a look at these predictions, the average price target given by analysts for Enovix Corporation (ENVX) stock is $40.29.