The trading price of Enovix Corporation (NASDAQ:ENVX) closed higher on Friday, February 07, and closing at $11.78, 0.17% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $11.184 and $11.9499. In examining the 52-week price action we see that the stock hit a 52-week high of $18.68 and a 52-week low of $5.70. Over the past month, the stock has lost -17.79% in value.
Enovix Corporation, whose market valuation is $2.22 billion at the time of this writing, is expected to release its quarterly earnings report in March. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.18 per share this quarter, however they have predicted annual earnings per share of -0.81 for current year and -0.64 for next year.
Analysts have forecast the company to bring in revenue of 8.77M for the current quarter, with the likely lows of 8M and highs of 9M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 22.18M.
On the technical side, indicators suggest ENVX has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a Hold, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ENVX a recommendation rating is 9. Out of them, 1 rate it a Hold, while 8 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Enovix Corporation (ENVX) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that ENVX’s price is currently 2.32% off the SMA20 and 10.18% off the SMA50. The RSI metric on the 14-day chart is currently showing 53.38, and weekly volatility stands at 7.35%. When measured over the past 30 days, the indicator reaches 8.44%. Enovix Corporation (NASDAQ:ENVX)’s beta value is currently sitting at 1.87, while the Average True Range indicator is currently displaying 0.99. With analysts defining $5-$36 as the low and high price targets, we arrive at a consensus price target of $22 for the trailing 12-month period. The current price is about 57.56% off the estimated low and -205.6% off the forecast high, based on this estimate. Investors will be thrilled if ENVX’s share price rises to $22, which is the median consensus price. At that level, ENVX’s share price would be -86.76% below current price.
To see how Enovix Corporation stock has been performing in comparison to its peers in the industry, here are the numbers: ENVX stock’s performance was 0.17% in the latest trading, and 19.72% in the past year.
An evaluation of the daily trading volume of Enovix Corporation (NASDAQ:ENVX) indicates that the 3-month average is 6.11 million. However, this figure has increased over the past 10 days to an average of 5.4.
Currently, records show that 177.59 million of the company’s shares remain outstanding. The insiders hold 15.12% of outstanding shares, whereas institutions hold 47.32%. The stats also highlight that short interest as of 2025-01-15, stood at 44.49 million shares, resulting in a short ratio of 5.3 at that time. From this, we can conclude that short interest is 2685.00 of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 49.88 million. However, since the stock’s price has seen 8.37% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
