In the past week, ENVX stock has gone up by 50.69%, with a monthly gain of 29.54% and a quarterly surge of 7.00%. The volatility ratio for the week is 11.14%, and the volatility levels for the last 30 days are 8.23% for Enovix Corporation The simple moving average for the past 20 days is 41.22% for ENVX’s stock, with a -14.08% simple moving average for the past 200 days.
Is It Worth Investing in Enovix Corporation (NASDAQ: ENVX) Right Now?
Additionally, the 36-month beta value for ENVX is 1.75. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for ENVX is 137.98M and currently, short sellers hold a 30.30% ratio of that float. The average trading volume of ENVX on May 07, 2024 was 5.05M shares.
ENVX) stock’s latest price update
The stock price of Enovix Corporation (NASDAQ: ENVX) has plunged by -3.07 when compared to previous closing price of 10.09, but the company has seen a 50.69% gain in its stock price over the last five trading sessions. InvestorPlace reported 2024-05-03 that Lithium stocks once captured the attention of investors globally as the demand for lithium-ion batteries soared, driven by the burgeoning electric vehicle market and renewable energy sector. A primary component in rechargeable battery production in electric cars, portable electronics and energy storage solutions, lithium is sometimes called “white gold.
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 23.64% 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 -59.08% of loss for the given period.
Volatility was left at 8.23%, however, over the last 30 days, the volatility rate increased by 11.14%, as shares surge +32.34% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.41% upper at present.
During the last 5 trading sessions, ENVX rose by +50.69%, which changed the moving average for the period of 200-days by -53.58% in comparison to the 20-day moving average, which settled at $7.05. In addition, Enovix Corporation saw -21.88% 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 Marathe Ajay, who sale 4,954 shares at the price of $7.31 back on Apr 14 ’24. After this action, Marathe Ajay now owns 978,913 shares of Enovix Corporation, valued at $36,214 using the latest closing price.
Talluri Rajendra K, the President and CEO of Enovix Corporation, purchase 1,434 shares at $13.94 during a trade that took place back on Aug 24 ’23, which means that Talluri Rajendra K is holding 2,018,901 shares at $19,990 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 -69.02, with -40.64 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 1154.44. 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 4.89.
Conclusion
In conclusion, Enovix Corporation (ENVX) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
