Enovix Corporation (NASDAQ: ENVX): Investing Tips And Trends

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In the last trading session, 1.06 million Enovix Corporation (NASDAQ:ENVX) shares changed hands as the company’s beta touched 0. With the company’s per share price at $10.18 changed hands at -$0.49 or -4.59% during last session, the market valuation stood at $1.68B. ENVX’s last price was a discount, traded about -287.82% off its 52-week high of $39.48. The share price had its 52-week low at $7.26, which suggests the last value was 28.68% up since then. When we look at Enovix Corporation’s average trading volume, we note the 10-day average is 1.75 million shares, with the 3-month average coming to 2.68 million.

Analysts gave the Enovix Corporation (ENVX) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.70. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended ENVX as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Enovix Corporation’s EPS for the current quarter is expected to be -$0.16.

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Instantly ENVX was in red as seen at the end of in last trading. With action -8.86%, the performance over the past five days has been red. The drop to weekly highs of 11.65 on Tuesday, 07/26/22 subtracted -4.59% to the stock’s daily price. The company’s shares are showing year-to-date downside of -62.68%, with the 5-day performance at -8.86% in the red. However, in the 30-day time frame, Enovix Corporation (NASDAQ:ENVX) is -2.12% down. Looking at the short shares, we see there were 4.58 million shares sold at short interest cover period of 4.17 days.

The consensus price target for the stock as assigned by Wall Street analysts is $24.75, meaning bulls need an upside of 58.87% from its current market value. According to analyst projections, ENVX’s forecast low is $19.00 with $38.00 as the target high. To hit the forecast high, the stock’s price needs a -273.28% plunge from its current level, while the stock would need to soar -86.64% for it to hit the projected low.

Enovix Corporation (ENVX) estimates and forecasts

Data shows that the Enovix Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -36.34% over the past 6 months, a 41.12% in annual growth rate that is considerably higher than the industry average of 14.10%.

4 analysts are of the opinion that Enovix Corporation’s revenue for the quarter ending Jun 2022 will be $660k.

The 2022 estimates are for Enovix Corporation earnings to decrease by -6.20%.

ENVX Dividends

Enovix Corporation is expected to release its next quarterly earnings report between March 07 and March 11.

Enovix Corporation (NASDAQ:ENVX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 17.97% of Enovix Corporation shares while 48.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 59.48%. There are 48.79% institutions holding the Enovix Corporation stock share, with Eclipse Ventures, LLC the top institutional holder. As of Mar 30, 2022, the company held 11.22% of the shares, roughly 17.58 million ENVX shares worth $250.91 million.

Park West Asset Management LLC holds the second largest percentage of outstanding shares, with 7.96% or 12.47 million shares worth $340.25 million as of Dec 30, 2021.

Among Mutual Funds, the top two as of Dec 30, 2021 were Vanguard Extended Market Index Fund and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF. With 1.29 million shares estimated at $35.17 million under it, the former controlled 0.82% of total outstanding shares. On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF held about 0.46% of the shares, roughly 0.72 million shares worth around $11.52 million.