In yesterday’s Wall Street session, Enovix Corporation (NASDAQ:ENVX) shares traded at $12.13, up 0.33% from the previous session.
As of this writing, 12 analysts cover Enovix Corporation (NASDAQ:ENVX). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $100.00 and a low of $15.00, we find $20.50. Given the previous closing price of $12.09, this indicates a potential upside of 69.56 percent. ENVX stock price is now -2.03% away from the 50-day moving average and -11.25% away from the 200-day moving average. The market capitalization of the company currently stands at $1.99B.
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There are 0 analysts who have given it a hold rating, whereas 12 have given it a buy rating. Brokers who have rated the stock have averaged $28.42 as their price target over the next twelve months.
In other news, Talluri Rajendra K, President and CEO bought 5,000 shares of the company’s stock on Apr 27. The stock was bought for $50,475 at an average price of $10.10. Upon completion of the transaction, the President and CEO now directly owns 2,010,000 shares in the company, valued at $24.38 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 24, Director ATKINS BETSY S sold 5,000 shares of the business’s stock. A total of $61,800 was realized by selling the stock at an average price of $12.36. This leaves the insider owning 192,561 shares of the company worth $2.34 million. Insiders disposed of 5,603,402 shares of company stock worth roughly $67.97 million over the past 1 year. A total of 2.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ENVX stock. A new stake in Enovix Corporation shares was purchased by NORGES BANK during the first quarter worth $12,814,000. MASTERS CAPITAL MANAGEMENT LLC invested $12,130,000 in shares of ENVX during the first quarter. In the first quarter, WEISS MULTI-STRATEGY ADVISERS LLC acquired a new stake in Enovix Corporation valued at approximately $6,065,000. PLUSTICK MANAGEMENT LLC acquired a new stake in ENVX for approximately $5,883,000. TUDOR INVESTMENT CORP ET AL purchased a new stake in ENVX valued at around $5,016,000 in the second quarter. In total, there are 307 active investors with 56.40% ownership of the company’s stock.
Tuesday morning saw Enovix Corporation (NASDAQ: ENVX) opened at $12.00. During the past 12 months, Enovix Corporation has had a low of $6.50 and a high of $26.30. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 12.00, and a quick ratio of 12.00. The fifty day moving average price for ENVX is $12.41 and a two-hundred day moving average price translates $13.66 for the stock.
The latest earnings results from Enovix Corporation (NASDAQ: ENVX) was released for Apr, 2023. According to the Electrical Equipment & Parts Company, earnings per share came in at -$0.2, beating analysts’ expectations of -$0.21 by 0.01. This compares to $0.28 EPS in the same period last year. For the current quarter, analysts expect ENVX to generate $70k in revenue.
Enovix Corporation(ENVX) Company Profile
Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.
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