The 36-month beta value for ENVX is also noteworthy at 2.08. 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 140.07M, and at present, short sellers hold a 29.99% of that float. The average trading volume of ENVX on August 06, 2024 was 6.47M shares.
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ENVX) stock’s latest price update
Enovix Corporation (NASDAQ: ENVX) has experienced a decline in its stock price by -4.85 compared to its previous closing price of 11.97. However, the company has seen a fall of -20.52% in its stock price over the last five trading days. seekingalpha.com reported 2024-08-02 that Enovix Corporation’s 19% plunge on Q2 earnings is an overreaction to Agility line yields, in my opinion. Enovix has entered into agreements and MOUs which is a promising sign for its future revenues. One of Enovix’s potential smartphone OEM customers could be Samsung, in light of its deal with Elentec.
ENVX’s Market Performance
Enovix Corporation (ENVX) has seen a -20.52% fall in stock performance for the week, with a -28.81% decline in the past month and a 12.88% surge in the past quarter. The volatility ratio for the week is 12.92%, and the volatility levels for the past 30 days are at 8.34% for ENVX. The simple moving average for the past 20 days is -27.69% for ENVX’s stock, with a 4.81% simple moving average for the past 200 days.
Analysts’ Opinion of ENVX
Many brokerage firms have already submitted their reports for ENVX stocks, with The Benchmark Company repeating the rating for ENVX by listing it as a “Buy.” The predicted price for ENVX in the upcoming period, according to The Benchmark Company is $25 based on the research report published on July 22, 2024 of the current year 2024.
TD Cowen gave a rating of “Market Perform” to ENVX, setting the target price at $20 in the report published on July 21st of the previous year.
ENVX Trading at -17.18% 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 -41.20% of loss for the given period.
Volatility was left at 8.34%, however, over the last 30 days, the volatility rate increased by 12.92%, as shares sank -31.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.66% upper at present.
During the last 5 trading sessions, ENVX fell by -20.52%, which changed the moving average for the period of 200-days by +4.40% in comparison to the 20-day moving average, which settled at $15.49. In addition, Enovix Corporation saw -9.03% 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 Reichow Gregory, who sale 7,500 shares at the price of $12.14 back on Jun 20 ’24. After this action, Reichow Gregory now owns 8,129 shares of Enovix Corporation, valued at $91,050 using the latest closing price.
Marathe Ajay, the Chief Operating Officer of Enovix Corporation, sale 4,954 shares at $7.31 during a trade that took place back on Apr 14 ’24, which means that Marathe Ajay is holding 978,913 shares at $36,214 based on the most recent closing price.
Stock Fundamentals for ENVX
Current profitability levels for the company are sitting at:
- -629.19 for the present operating margin
- -163.61 for the gross margin
The net margin for Enovix Corporation stands at -674.1. The total capital return value is set at -0.35. Equity return is now at value -114.18, with -46.38 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 -0.28. The debt to equity ratio resting at 0.69. The interest coverage ratio of the stock is -16.44.
Currently, EBITDA for the company is -165.48 million with net debt to EBITDA at 0.7. When we switch over and look at the enterprise to sales, we see a ratio of 6996.58. The receivables turnover for the company is 263.0for 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 3.98.
Conclusion
In summary, Enovix Corporation (ENVX) has had a bad performance as of late. Analysts have mixed opinions on the stock, with some viewing 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.
