In yesterday’s Wall Street session, Enovix Corporation (NASDAQ:ENVX) shares traded at $9.05, up 1.57% 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 $11.00, we find $25.00. Given the previous closing price of $8.91, this indicates a potential upside of 180.58 percent. ENVX stock price is now -24.78% away from the 50-day moving average and -29.84% away from the 200-day moving average. The market capitalization of the company currently stands at $1.45B.
The stock has received a hold rating from 1 analysts and a buy rating from 11. Brokers who have rated the stock have averaged $30.33 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 $18.27 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 $1.44 million. Insiders disposed of 464,776 shares of company stock worth roughly $4.21 million over the past 1 year. A total of 19.48% of the company’s stock is owned by insiders.
On Wednesday morning Enovix Corporation (NASDAQ: ENVX) stock kicked off with the opening price of $8.93. 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 $12.03 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.
