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.
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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.
