Could Enovix Corporation (ENVX) stock price achieve new all-time highs if its expected earnings and revenue increase?

In yesterday’s Wall Street session, Enovix Corporation (NASDAQ:ENVX) shares traded at $13.17, down -1.50% 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 $20.00, we find $25.00. Given the previous closing price of $13.37, this indicates a potential upside of 86.99 percent. ENVX stock price is now -21.85% away from the 50-day moving average and 2.10% away from the 200-day moving average. The market capitalization of the company currently stands at $2.16B.

There are 1 analysts who have given it a hold rating, whereas 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, Talluri Rajendra K, President and CEO bought 1,434 shares of the company’s stock on Aug 24. The stock was bought for $19,990 at an average price of $13.94. Upon completion of the transaction, the President and CEO now directly owns 2,018,901 shares in the company, valued at $26.59 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 11, Director ATKINS BETSY S sold 36,000 shares of the business’s stock. A total of $585,000 was realized by selling the stock at an average price of $16.25. This leaves the insider owning 159,369 shares of the company worth $2.1 million. Insiders disposed of 546,108 shares of company stock worth roughly $7.19 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 $29,152,000. HOOD RIVER CAPITAL MANAGEMENT LLC invested $24,953,000 in shares of ENVX during the first quarter. In the first quarter, NORGES BANK acquired a new stake in Enovix Corporation valued at approximately $13,913,000. BANK OF MONTREAL /CAN/ acquired a new stake in ENVX for approximately $6,346,000. TTP INVESTMENTS, INC. purchased a new stake in ENVX valued at around $4,683,000 in the second quarter. In total, there are 295 active investors with 56.40% ownership of the company’s stock.

Tuesday morning saw Enovix Corporation (NASDAQ: ENVX) opened at $13.10. During the past 12 months, Enovix Corporation has had a low of $6.50 and a high of $23.90. As of last week, the company has a debt-to-equity ratio of 0.67, a current ratio of 11.10, and a quick ratio of 11.00. The fifty day moving average price for ENVX is $16.72 and a two-hundred day moving average price translates $12.90 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.