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A Data-Based Look At Enovix Corporation (ENVX)

Enovix Corporation (NASDAQ:ENVX) concluded the trading at $19.79 on Thursday, September 22 with a fall of -9.55% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $21.88 with its price kept floating in the range of $18.84 and $21.79 on the day. Considering stock’s 52-week price range provides that ENVX hit a high price of $39.48 and saw its price falling to a low level of $7.26 during that period. Over a period of past 1-month, stock came subtracting -7.22% in its value.

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With its current market valuation of $3.50 billion, Enovix Corporation is set to declare its quarterly results on Mar 07, 2022 – Mar 11, 2022. Analysts are in estimates of -$0.17 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$0.69 for 2022 with estimates of that growing to -$0.69 in next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $400k. They suggested that in the process company could generate revenue of as low as $60k which could climb up to $960k to hit a high.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review ENVX stock’s current outlook then short term indicators are assigning it an average of 50% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 50% Buy for it.

Digging deeper we become aware of the PEG ratio of the ENVX stock which is currently positioned at 0. It further provides that stock’s current price level is -9.82% away from its 20-day simple moving average and is 11.30% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 47.00 while volatility remained at 11.05% over the past week which changes to 11.04% when measuring it over the past month. Average true range or ATR is currently at 2.44.

Having a second look at Enovix Corporation (NASDAQ:ENVX) provides that stock’s average daily trading volume for 3 months was 4.33 million, while it jumped to 5.43 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 152.52 million.

The percentage of outstanding shares held by the insiders is 2.70% while it is 62.50% for the institutional holders. The figures also indicate that as of Jul 14, 2022, number of stock’s short shares was 13.52 million which implies a short ratio of 4.14. This shows up a 8.62% of Short Interest in company’s outstanding shares on the day. In July the standing of shares short improved as it was 5.3 million in the previous month. Subtraction of -27.46% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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