Stocks of Enovix Corporation (NASDAQ:ENVX) traded higher last session on Wall Street, up 5.88% to $12.42.
According to the data, Enovix Corporation (NASDAQ:ENVX) has 12 analysts covering its stock. The consensus rating among analysts is ‘Buy’. ENVX stock price is now -21.72% away from the 50-day moving average and -3.69% away from the 200-day moving average. The market capitalization of the company currently stands at $1.99B.
A total of 1 analysts have issued a hold rating and 11 have given it a buy rating.
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 $25.07 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 $1.98 million. Insiders disposed of 546,108 shares of company stock worth roughly $6.78 million over the past 1 year. A total of 19.48% 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 $27,492,000. HOOD RIVER CAPITAL MANAGEMENT LLC invested $23,532,000 in shares of ENVX during the first quarter. In the first quarter, NORGES BANK acquired a new stake in Enovix Corporation valued at approximately $13,121,000. BANK OF MONTREAL /CAN/ acquired a new stake in ENVX for approximately $5,984,000. TTP INVESTMENTS, INC. purchased a new stake in ENVX valued at around $4,416,000 in the second quarter. In total, there are 295 active investors with 50.43% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $11.95 for Enovix Corporation (NASDAQ: ENVX). 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 0.71, a current ratio of 11.05, and a quick ratio of 11.03. The fifty day moving average price for ENVX is $15.67 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 net profit margin was -19854.21% and return on equity was -68.37% for ENVX. 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 $120k 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.
