What Analysts Say about the Enovix Corporation (ENVX) Stock


Enovix Corporation (NASDAQ:ENVX) saw a downside of -2.80% to close Tuesday at $7.99 after subtracting -$0.23 on the day. The 5-day average trading volume is 3,345,680 shares of the company’s common stock. It has gained $8.64 in the past week and touched a new high 1 time within the past 5 days. An average of 6,289,820 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,109,812.

ENVX’s 1-month performance is -28.28% or -$2.97 on its low of $6.50 reached on 01/04/23. The company’s shares have touched a 52-week low of $6.50 and high of $26.30, with the stock’s rally to the 52-week high happening on 01/03/23. YTD, ENVX has lost -35.77% or -$4.45 and has reached a new high 1 time. However, the current price is down -69.62% from the 52-week high price.

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Insider Transactions

ENVX stock investors last saw insider trading activity on Jan 03.Lahiri Ashok (Chief Technology Officer) most recently sold 2,000 shares at $12.81 per share on Jan 03. This transaction cost the insider $25,620. Chief Technology Officer, Lahiri Ashok, sold 2,000 shares at a price of $12.88 on Dec 01. Then, on Nov 01, President and CEO RUST HARROLD J sold 2,000 shares at a price of $18.77 per share. This transaction amounted to $37,540.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 239.01 while the price-to-book (PB) in the most recent quarter is 3.41.

Enovix Corporation’s quick ratio for the period ended September 29 was 20.30, with the current ratio over the same period at 20.30. The firm’s gross profit as reported stood at $68.52 million against revenue of $1.97 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 86.78% to -$82.01 million, while revenue of -$1.14 million was 98.61% off the previous quarter. Analysts expected ENVX to announce -$0.16 per share in earnings in its latest quarter, but it posted -$0.15, representing a 6.30% surprise. EBITDA for the quarter stood at more than -$30.68 million. ENVX stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 109.28 million, with total debt at $8.45 million. Shareholders hold equity totaling $157.1 million.

Let’s look briefly at Enovix Corporation (ENVX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 36.88% to suggest the stock is trending Neutral, with historical volatility in this time period at 41.06%.

The stock’s 5-day moving average is $7.99, reflecting a -3.73% or -$0.31 change from its current price. ENVX is currently trading -26.02% above its 20-day SMA, -65.69% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -32.74% and SMA200 by-38.25%.

Stochastic %K and %D was 35.68% and 26.79% and the average true range (ATR) pointed at 0.75. The RSI (14) points at 36.98%, while the 14-day stochastic is at 57.76% with the period’s ATR at 0.84. The stock’s 9-day MACD Oscillator is pointing at -0.13 and -0.03 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Enovix Corporation (NASDAQ: ENVX), Canaccord Genuity launched coverage with a Buy rating. Analysts offering their rating for ENVX stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate ENVX as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 12 have offered a “buy” rating.

What is ENVX’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $18.00 and a high of $100.00, with their median price target at $24.00. Looking at these predictions, the average price target given by analysts is for Enovix Corporation (ENVX) stock is $30.71.


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