Enovix Corporation (NASDAQ: ENVX)’s stock price has increased by 6.05 compared to its previous closing price of 10.25. Nevertheless, the company has seen a 14.18% surge in its stock price over the last five trading sessions.
Is It Worth Investing in Enovix Corporation (NASDAQ: ENVX) Right Now?
Analysts have varying views on the stock, with 12 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The average price suggested by analysts for ENVX is $28.50, which is $18.77 above the current market price. The public float for ENVX is 127.53M, and currently, shorts hold a 15.56% of that float. The average trading volume for ENVX on March 17, 2023 was 4.59M shares.
ENVX’s Market Performance
ENVX stock saw an increase of 14.18% in the past week, with a monthly gain of 28.64% and a quarterly increase of -4.65%. The volatility ratio for the week is 10.20%, and the volatility levels for the last 30 days are 8.53% for Enovix Corporation (ENVX). The simple moving average for the last 20 days is 16.20% for ENVX stock, with a simple moving average of -18.47% for the last 200 days.
Analysts’ Opinion of ENVX
Many brokerage firms have already submitted their reports for ENVX stocks, with Canaccord Genuity repeating the rating for ENVX by listing it as a “Buy.” The predicted price for ENVX in the upcoming period, according to Canaccord Genuity is $20 based on the research report published on January 11th of the current year 2023.
B. Riley Securities, on the other hand, stated in their research note that they expect to see ENVX reach a price target of $19. The rating they have provided for ENVX stocks is “Buy” according to the report published on December 02nd, 2022.
Janney gave a rating of “Buy” to ENVX, setting the target price at $23 in the report published on November 04th of the previous year.
ENVX Trading at 24.11% from the 50-Day Moving Average
After a stumble in the market that brought ENVX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -58.67% of loss for the given period.
Volatility was left at 8.53%, however, over the last 30 days, the volatility rate increased by 10.20%, as shares surge +19.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -10.31% lower at present.
During the last 5 trading sessions, ENVX rose by +14.18%, which changed the moving average for the period of 200-days by -11.48% in comparison to the 20-day moving average, which settled at $9.44. In addition, Enovix Corporation saw -12.62% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ENVX starting from Rodgers Thurman J, who purchase 34,899 shares at the price of $10.96 back on Mar 16. After this action, Rodgers Thurman J now owns 629,144 shares of Enovix Corporation, valued at $382,493 using the latest closing price.
Rodgers Thurman J, the Director of Enovix Corporation, purchase 129,111 shares at $10.47 during a trade that took place back on Mar 15, which means that Rodgers Thurman J is holding 594,245 shares at $1,351,792 based on the most recent closing price.
Stock Fundamentals for ENVX
Current profitability levels for the company are sitting at:
- -2048.66 for the present operating margin
- -274.70 for the gross margin
The net margin for Enovix Corporation stands at -832.34. Equity return is now at value -13.20, with -10.90 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 14.28.
Conclusion
In conclusion, Enovix Corporation (ENVX) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
