Enovix Corporation (NASDAQ:ENVX) saw a downside of -1.14% to close Monday at $13.89 after subtracting -$0.16 on the day. The 5-day average trading volume is 5,899,120 shares of the company’s common stock. It has gained $16.09 in the past week and touched a new high 1 time within the past 5 days. An average of 7,015,285 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,900,636.
ENVX’s 1-month performance is -28.70% or -$5.59 on its low of $13.46 reached on 08/18/23. 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 07/27/23. YTD, ENVX has achieved 11.66% or $1.45 and has reached a new high 19 times. However, the current price is down -47.19% from the 52-week high price.
Insider Transactions
ENVX stock investors last saw insider trading activity on Aug 11.ATKINS BETSY S (Director) most recently sold 36,000 shares at $16.25 per share on Aug 11. This transaction cost the insider $585,000. Director, ATKINS BETSY S, sold 4,528 shares at a price of $15.02 on Jun 20. Then, on Apr 24, Director ATKINS BETSY S sold 5,000 shares at a price of $12.36 per share. This transaction amounted to $61,800.
Valuation Metrics
ENVX stock has a beta of 1.61. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1832.44 while the price-to-book (PB) in the most recent quarter is 8.85.
Enovix Corporation’s quick ratio for the period ended June 29 was 11.00, with the current ratio over the same period at 11.10. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.67, while the total debt to equity was 0.67. The trailing 12-month EBITDA margin is -1920.12%. The firm’s gross profit as reported stood at -$17.04 million against revenue of $6.2 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 98.23% to -$64.31 million, while revenue of -$73.6 million was -14.45% off the previous quarter. Analysts expected ENVX to announce -$0.22 per share in earnings in its latest quarter, but it posted -$0.19, representing a 13.60% surprise. EBITDA for the quarter stood at more than -$48.34 million. ENVX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 291.67 million, with total debt at $175.47 million. Shareholders hold equity totaling $160.13 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 21 August was 20.96% to suggest the stock is trending oversold, with historical volatility in this time period at 33.98%.
The stock’s 5-day moving average is $14.48, reflecting a -12.75% or -$2.03 change from its current price. ENVX is currently trading -26.59% above its 20-day SMA, +23.58% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -1.77% and SMA200 by-22.79%.
Stochastic %K and %D was 4.51% and 3.46% and the average true range (ATR) pointed at 1.12. The RSI (14) points at 29.85%, while the 14-day stochastic is at 5.80% with the period’s ATR at 1.22. The stock’s 9-day MACD Oscillator is pointing at -1.44 and -2.38 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Enovix Corporation (NASDAQ: ENVX), TD Cowen downgraded it to a Market perform rating. They previously had an Outperform rating on the stock. 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 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 11 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 $20.00 and a high of $100.00, with their median price target at $25.00. Looking at these predictions, the average price target given by analysts is for Enovix Corporation (ENVX) stock is $31.42.
