The stock of Enovix Corporation (NASDAQ:ENVX) last traded at $21.41, up 4.18% from the previous session.
Data from the available sources indicates that Enovix Corporation (NASDAQ:ENVX) is covered by 12 analysts. 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 $20.55, this indicates a potential downside of -0.24 percent. ENVX stock price is now 46.22% away from the 50-day moving average and 68.48% away from the 200-day moving average. The market capitalization of the company currently stands at $3.42B.
In total, 0 analysts have assigned it a hold rating, and 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.
With the price target of $20, Canaccord Genuity recently initiated with Buy rating for Enovix Corporation (NASDAQ: ENVX).
In other news, ATKINS BETSY S, Director sold 4,528 shares of the company’s stock on Jun 20. The stock was sold for $68,011 at an average price of $15.02. Upon completion of the transaction, the Director now directly owns 195,369 shares in the company, valued at $4.18 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 27, President and CEO Talluri Rajendra K bought 5,000 shares of the business’s stock. A total of $50,475 was incurred on buying the stock at an average price of $10.10. This leaves the insider owning 2,010,000 shares of the company worth $43.03 million. Insiders disposed of 5,696,330 shares of company stock worth roughly $121.96 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 $22,618,000. MASTERS CAPITAL MANAGEMENT LLC invested $21,410,000 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 $10,705,000. PLUSTICK MANAGEMENT LLC acquired a new stake in ENVX for approximately $10,384,000. TUDOR INVESTMENT CORP ET AL purchased a new stake in ENVX valued at around $8,853,000 in the second quarter. In total, there are 307 active investors with 56.40% ownership of the company’s stock.
With an opening price of $20.56 on Monday morning, Enovix Corporation (NASDAQ: ENVX) set off the trading day. 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 $14.84 and a two-hundred day moving average price translates $12.72 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 $60k 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.
