Enovix Corporation (NASDAQ:ENVX) shares, rose in value, with the stock price down by -1.41% to the previous day’s close as strong demand from buyers drove the stock to $10.48.
Actively observing the price movement in the last trading, the stock closed the session at $10.63, falling within a range of $10.41 and $11.87. Referring to stock’s 52-week performance, its high was $18.68, and the low was $5.70. On the whole, ENVX has fluctuated by 22.14% over the past month.
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With the market capitalization of Enovix Corporation currently standing at about $1.85 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-Feb-18.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 20.54M, with a low estimate of 6M and a high estimate of 10M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 7.38M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ENVX’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of ENVX currently trading nearly -8.57% and 3.72% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.14, while the 7-day volatility ratio is showing 8.66% which for the 30-day chart, stands at 9.15%. Furthermore, Enovix Corporation (ENVX)’s beta value is 1.97, and its average true range (ATR) is 0.92.
A comparison of Enovix Corporation (ENVX) with its peers suggests the former has fared considerably weaker in the market. ENVX showed an intraday change of -1.41% in last session, and over the past year, it grew by 20.46%%.
Data on historical trading for Enovix Corporation (NASDAQ:ENVX) indicates that the trading volumes over the past 10 days have averaged 5.77 and over the past 3 months, they’ve averaged 5.74 million. According to company’s latest data on outstanding shares, there are 167.39 million shares outstanding.
Nearly 16.38% of Enovix Corporation’s shares belong to company insiders and institutional investors own 47.75% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 51.82 million shares as on 2024-10-15, resulting in a short ratio of 9.18. According to the data, the short interest in Enovix Corporation (ENVX) stood at 3374.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 52.78 million. The stock has fallen by -16.29% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ENVX stock heading into the next quarter.
