Enovix Corporation (NASDAQ: ENVX)’s stock price has dropped by -11.37 in relation to previous closing price of 11.92. Nevertheless, the company has seen a loss of -11.74% in its stock price over the last five trading days. investorplace.com reported 2024-08-07 that Meme stocks – just mentioning the concept might cause eyes to roll. And that to be fair is a natural reaction.
Is It Worth Investing in Enovix Corporation (NASDAQ: ENVX) Right Now?
The 36-month beta value for ENVX is at 2.09. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for ENVX is 145.25M, and currently, shorts hold a 31.37% of that float. The average trading volume for ENVX on August 12, 2024 was 6.37M shares.
ENVX’s Market Performance
ENVX stock saw a decrease of -11.74% in the past week, with a monthly decline of -40.51% and a quarterly a decrease of 15.59%. The volatility ratio for the week is 11.75%, and the volatility levels for the last 30 days are 9.10% for Enovix Corporation (ENVX). The simple moving average for the last 20 days is -27.32% for ENVX’s stock, with a simple moving average of -2.93% for the last 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 -23.51% 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 -43.44% of loss for the given period.
Volatility was left at 9.10%, however, over the last 30 days, the volatility rate increased by 11.75%, as shares sank -41.69% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.47% upper at present.
During the last 5 trading sessions, ENVX fell by -11.74%, which changed the moving average for the period of 200-days by +9.48% in comparison to the 20-day moving average, which settled at $14.16. In addition, Enovix Corporation saw -15.62% 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 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 6715.79. 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 conclusion, Enovix Corporation (ENVX) has had a bad performance lately. Opinion on the stock among analysts is mixed, 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.
