In the last trading session, 3.64 million shares of the Enovix Corporation (NASDAQ:ENVX) were traded. Most recently the company’s share price was $11.15, and it changed around $0.03 or 0.27% from the last close, which brings the market valuation of the company to $1.70B. ENVX currently trades at a discount to its 52-week high of $39.48, offering almost -254.08% off that amount. The share price’s 52-week low was $7.26, which indicates that the current value has risen by an impressive 34.89% since then. We note from Enovix Corporation’s average daily trading volume that its 3-month average coming to 2.03 million.
Enovix Corporation stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended ENVX as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Enovix Corporation is expected to report earnings per share of -$0.16 for the current quarter.
Enovix Corporation (NASDAQ:ENVX) trade information
Instantly ENVX has showed a green trend with a performance of 0.27% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 11.98 on Tuesday, 06/21/22 increased the stock’s daily price by 6.93%. The company’s shares are currently down -59.13% year-to-date, but still down -1.41% over the last five days. On the other hand, Enovix Corporation (NASDAQ:ENVX) is 14.48% down in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $26.00, which translates to bulls needing to increase their stock price by 57.12% from its current value. Analyst projections state that ENVX is forecast to be at a low of $20.00 and a high of $38.00. In order for the stock price to hit the forecast high, the stock would need to plunge -240.81% from its current level, while the stock would need to crash -79.37% from its current level to reach the projected low.
Enovix Corporation (ENVX) estimates and forecasts
Enovix Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -56.97 percent over the past six months and at a 40.19% annual growth rate that is well above the industry average of 18.20%.
4 analysts expect Enovix Corporation to make $660k in revenue for the quarter ending Jun 2022.
Enovix Corporation’s next quarterly earnings report is expected to be released around March 07 and March 11.
Enovix Corporation (NASDAQ:ENVX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 17.97% of Enovix Corporation shares, and 48.79% of them are in the hands of institutional investors. The stock currently has a share float of 59.48%. Enovix Corporation stock is held by 173 institutions, with Eclipse Ventures, LLC being the largest institutional investor. By Mar 30, 2022, it held 11.22% of the shares, which is about 17.58 million shares worth $250.91 million.
Park West Asset Management LLC, with 7.96% or 12.47 million shares worth $340.25 million as of Dec 30, 2021, holds the second largest percentage of outstanding shares.
Vanguard Extended Market Index Fund and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF were the top two Mutual Funds as of Dec 30, 2021. The former held 1.29 million shares worth $35.17 million, making up 0.82% of all outstanding shares. On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF held roughly 0.72 million shares worth around $11.52 million, which represents about 0.46% of the total shares outstanding.