In yesterday’s Wall Street session, Enovix Corporation (NASDAQ:ENVX) shares traded at $15.04, down -3.09% from the previous session.
12 analysts cover Enovix Corporation (NASDAQ:ENVX), according to research data. 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 $15.52, this indicates a potential upside of 61.08 percent. ENVX stock price is now -13.56% away from the 50-day moving average and 17.30% away from the 200-day moving average. The market capitalization of the company currently stands at $2.45B.
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The stock has received a hold rating from 1 analysts and a buy rating from 11. 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 36,000 shares of the company’s stock on Aug 11. The stock was sold for $585,000 at an average price of $16.25. Upon completion of the transaction, the Director now directly owns 159,369 shares in the company, valued at $2.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 20, Director ATKINS BETSY S sold 4,528 shares of the business’s stock. A total of $68,011 was realized by selling the stock at an average price of $15.02. This leaves the insider owning 195,369 shares of the company worth $2.94 million. Insiders disposed of 5,612,636 shares of company stock worth roughly $84.41 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 DRIEHAUS CAPITAL MANAGEMENT LLC during the first quarter worth $33,291,000. HOOD RIVER CAPITAL MANAGEMENT LLC invested $28,496,000 in shares of ENVX during the first quarter. In the first quarter, NORGES BANK acquired a new stake in Enovix Corporation valued at approximately $15,888,000. BANK OF MONTREAL /CAN/ acquired a new stake in ENVX for approximately $7,247,000. TTP INVESTMENTS, INC. purchased a new stake in ENVX valued at around $5,348,000 in the second quarter. In total, there are 295 active investors with 56.40% ownership of the company’s stock.
On Wednesday morning Enovix Corporation (NASDAQ: ENVX) stock kicked off with the opening price of $15.42. 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 $17.44 and a two-hundred day moving average price translates $12.81 for the stock.
The latest earnings results from Enovix Corporation (NASDAQ: ENVX) was released for Jul, 2023. According to the Electrical Equipment & Parts Company, earnings per share came in at -$0.19, beating analysts’ expectations of -$0.22 by 0.03. This compares to -$0.01 EPS in the same period last year. The company reported revenue of $42000.0 for the quarter, compared to $5.1 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -99.18 percent. For the current quarter, analysts expect ENVX to generate $110k 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.
