Enovix Corporation (ENVX) Stock Price and Analyst Predictions

The stock has a 36-month beta value of 1.61. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

The public float for ENVX is 138.06M, and at present, short sellers hold a 28.02% of that float. On April 02, 2024, the average trading volume of ENVX was 4.50M shares.

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ENVX) stock’s latest price update

The stock price of Enovix Corporation (NASDAQ: ENVX) has plunged by -2.42 when compared to previous closing price of 7.91, but the company has seen a -1.67% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-03-28 that When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock’s price, but are they really important?

ENVX’s Market Performance

Enovix Corporation (ENVX) has experienced a -1.67% fall in stock performance for the past week, with a -20.75% drop in the past month, and a -38.35% drop in the past quarter. The volatility ratio for the week is 5.30%, and the volatility levels for the past 30 days are at 7.11% for ENVX. The simple moving average for the last 20 days is -8.23% for ENVX stock, with a simple moving average of -39.00% for the last 200 days.

Analysts’ Opinion of ENVX

TD Cowen, on the other hand, stated in their research note that they expect to see ENVX reach a price target of $20, previously predicting the price at $19. The rating they have provided for ENVX stocks is “Market Perform” according to the report published on July 21st, 2023.

Canaccord Genuity gave a rating of “Buy” to ENVX, setting the target price at $20 in the report published on January 11th of the previous year.

ENVX Trading at -18.89% 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 -67.70% of loss for the given period.

Volatility was left at 7.11%, however, over the last 30 days, the volatility rate increased by 5.30%, as shares sank -20.66% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.00% lower at present.

During the last 5 trading sessions, ENVX fell by -2.17%, which changed the moving average for the period of 200-days by -43.40% in comparison to the 20-day moving average, which settled at $8.31. In addition, Enovix Corporation saw -38.35% 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 Talluri Rajendra K, who purchase 1,434 shares at the price of $13.94 back on Aug 24 ’23. After this action, Talluri Rajendra K now owns 2,018,901 shares of Enovix Corporation, valued at $19,990 using the latest closing price.

ATKINS BETSY S, the Director of Enovix Corporation, sale 36,000 shares at $16.25 during a trade that took place back on Aug 11 ’23, which means that ATKINS BETSY S is holding 159,369 shares at $585,000 based on the most recent closing price.

Stock Fundamentals for ENVX

Current profitability levels for the company are sitting at:

  • -155.33 for the present operating margin
  • -38.56 for the gross margin

The net margin for Enovix Corporation stands at -96.14. The total capital return value is set at -0.44. Equity return is now at value -69.66, with -42.48 for asset returns.

Based on Enovix Corporation (ENVX), the company’s capital structure generated 0.41 points at debt to capital in total, while cash flow to debt ratio is standing at -0.41. The debt to equity ratio resting at 0.69. The interest coverage ratio of the stock is -16.33.

Currently, EBITDA for the company is -165.48 million with net debt to EBITDA at 0.48. When we switch over and look at the enterprise to sales, we see a ratio of 880.94. The receivables turnover for the company is 1356.0for trailing twelve months and the total asset turnover is 0.0. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.30.

Conclusion

To sum up, Enovix Corporation (ENVX) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as 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.

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