The stock of Enovix Corporation (NASDAQ:ENVX) last traded at $17.52, down -1.30% 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 $20.00, we find $25.00. Given the previous closing price of $17.75, this indicates a potential upside of 40.85 percent. ENVX stock price is now 2.36% away from the 50-day moving average and 36.53% away from the 200-day moving average. The market capitalization of the company currently stands at $2.78B.
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In total, 1 analysts have assigned it a hold rating, and 11 have given it a buy rating. Brokers who have rated the stock have averaged $31.42 as their price target over the next twelve months.
With the price target enhanced from $19 to $20, TD Cowen Downgraded its rating from Outperform to Market Perform 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 $3.42 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 $35.22 million. Insiders disposed of 5,639,853 shares of company stock worth roughly $98.81 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 $18,508,000. MASTERS CAPITAL MANAGEMENT LLC invested $17,520,000 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 $8,760,000. PLUSTICK MANAGEMENT LLC acquired a new stake in ENVX for approximately $8,497,000. BANK OF MONTREAL /CAN/ purchased a new stake in ENVX valued at around $8,442,000 in the second quarter. In total, there are 295 active investors with 56.40% ownership of the company’s stock.
With an opening price of $17.70 on Wednesday 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 $17.22 and a two-hundred day moving average price translates $12.84 for the stock.
The latest earnings results from Enovix Corporation (NASDAQ: ENVX) was released for Jul, 2023.
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.
