As of Thursday close, Enovix Corporation’s (NASDAQ:ENVX) stock was down -$0.14, moving down -1.01 percent to $13.78. The average number of shares traded per day over the past five days has been 3,993,200 shares. 2 times new highs have been achieved over the past 5 days, with a $0.64 gain in that time frame. In the last twenty days, the average volume was 4,874,900, while in the previous 50 days, it was 7,393,010.
Since last month, ENVX stock retreated -27.93%. Shares of the company fell to $13.08 on 08/25/23, the lowest level in the past month. A 52-week high of $26.30 was reached on 07/27/23 after having rallying from a 52-week low of $6.50. Since the beginning of this year, ENVX’s stock price has risen by 10.77% or $1.34, and marked a new high 19 times. However, the stock has declined by -47.60% since its 52-week high.
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ENVX stock investors should be aware that Enovix Corporation (ENVX) stock had its last reported insider trading activity 8 days ago on Aug 24. Talluri Rajendra K, the President and CEO of the company, purchased of 1,434 shares for $13.94 on Aug 24. It resulted in a $19,990 investment by the insider. ATKINS BETSY S sold 36,000 shares at an average price of $16.25 on Aug 11. The insider now owns 159,369 shares following the transaction. On Jun 20, Director ATKINS BETSY S sold 4,528 shares at $15.02 apiece. The transaction was valued at $68,011.
Valuation Metrics
The stock’s beta is 1.50. Besides these, the trailing price-to-sales (P/S) ratio of 1734.56, the price-to-book (PB) ratio of 8.78.
Financial Health
In the three months ended June 29, Enovix Corporation’s quick ratio stood at 11.00, while its current ratio was 11.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.67, and the total debt-to-equity ratio was 0.67. Based on annual data, ENVX earned -$17.04 million in gross profit and brought in $6.2 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -37.00%. Return on equity (ROE) for the past 12 months was -72.60%.
In Enovix Corporation’s quarter-end financial report for June 29, it reported total debt of $166.81 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. ENVX’s revenue rose 2394.74% to -$0.23 million during the quarter, while net income inched up to -$0.19 million. While analysts expected Enovix Corporation to report -$0.22 quarterly earnings, the actual figure was -$0.19 per share, beating the consensus estimate by 13.60%. During the quarter, the company generated -$48.34 million in EBITDA. The liabilities of Enovix Corporation were 291.67 million at the end of its most recent quarter ended June 29, and its total debt was $175.47 million. The value of shareholders’ equity is $160.13 million.
Technical Picture
This quick technical analysis looks at Enovix Corporation’s (ENVX) price momentum. With a historical volatility rate of 48.55%, the RSI 9-day stood at 33.78% on 31 August.
With respect to its five-day moving average, the current Enovix Corporation price is up by +4.87% percent or $0.64. At present, ENVX shares trade -22.67% below its 20-day simple moving average and +4.95% percent above its 100-day simple moving average. However, the stock is currently trading approximately -4.44% below its SMA50 and +1.25% above its SMA200.
Stochastic coefficient K was 23.92% and Stochastic coefficient D was 22.61%, while ATR was 0.89. Given the Stochastic reading of 21.60% for the 14-day period, the RSI (14) reading has been calculated as 35.55%. As of today, the MACD Oscillator reading stands at 0.14, while the 14-day reading stands at -0.24.
Analyst Ratings
Enovix Corporation downgraded its rating on Enovix Corporation (NASDAQ: ENVX) to a Market perform in a note to investors on July 21, 2023. The analysts firm previously had an Outperform rating on the stock.Enovix Corporation (ENVX) has been rated Buy by analysts. According to 0 brokerage firms, ENVX is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Enovix Corporation stock as buy, with 11 recommending it as overweight.
With a median target price of $25.00, the current consensus forecast for the stock is $20.00 – $100.00. Based on these forecasts, analysts predict Enovix Corporation (ENVX) will achieve an average price target of $31.42.
