In last trading session, Enovix Corporation (NASDAQ:ENVX) saw 2.12 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $12.45 trading at $0.55 or 4.62% at ring of the bell on the day assigns it a market valuation of $2.00B. That closing price of ENVX’s stock is at a discount of -197.11% from its 52-week high price of $36.99 and is indicating a premium of 41.69% from its 52-week low price of $7.26. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.14 million shares which gives us an average trading volume of 4.68 million if we extend that period to 3-months.
For Enovix Corporation (ENVX), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.80. Splitting up the data highlights that, out of 9 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 9 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.16 in the current quarter.
Enovix Corporation (NASDAQ:ENVX) trade information
Upright in the green during last session for gaining 4.62%, in the last five days ENVX remained trading in the red while hitting it’s week-highest on Friday, 11/18/22 when the stock touched $12.45 price level, adding 8.79% to its value on the day. Enovix Corporation’s shares saw a change of -54.36% in year-to-date performance and have moved -8.99% in past 5-day. Enovix Corporation (NASDAQ:ENVX) showed a performance of -28.94% in past 30-days. Number of shares sold short was 12.26 million shares which calculate 2.92 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $34.61 to the stock, which implies a rise of 64.03% to its current value. Analysts have been projecting $23.00 as a low price target for the stock while placing it at a high target of $100.00. It follows that stock’s current price would drop -703.21% in reaching the projected high whereas dropping to the targeted low would mean a loss of -84.74% for stock’s current value.
Enovix Corporation (ENVX) estimates and forecasts
Statistics highlight that Enovix Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company added 25.50% of value to its shares in past 6 months, showing an annual growth rate of 46.73% while that of industry is -3.90. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -100.00% in the current quarter and calculating 5.60% increase in the next quarter.
8 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $440k for the same. And 7 analysts are in estimates of company making revenue of $1.24 million in the next quarter that will end on Dec 2022.
Enovix Corporation is more likely to be releasing its next quarterly report on November 01 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Enovix Corporation (NASDAQ:ENVX)’s Major holders
Insiders are in possession of 18.83% of company’s total shares while institution are holding 59.52 percent of that, with stock having share float percentage of 73.33%. Investors also watch the number of corporate investors in a company very closely, which is 59.52% institutions for Enovix Corporation that are currently holding shares of the company. Eclipse Ventures, LLC is the top institutional holder at ENVX for having 17.58 million shares of worth $156.67 million. And as of Jun 29, 2022, it was holding 11.19% of the company’s outstanding shares.
The second largest institutional holder is Park West Asset Management LLC, which was holding about 14.72 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 9.37% of outstanding shares, having a total worth of $131.19 million.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 3.23 million shares of worth $28.75 million or 2.05% of the total outstanding shares. The later fund manager was in possession of 2.77 million shares on Jun 29, 2022, making its stake of worth around $24.67 million in the company or a holder of 1.76% of company’s stock.