In the last trading session, 3.23 million Enovix Corporation (NASDAQ:ENVX) shares changed hands as the company’s beta touched 1.63. With the company’s per share price at $8.22 changed hands at -$0.46 or -5.30% during last session, the market valuation stood at $1.39B. ENVX’s last price was a discount, traded about -190.75% off its 52-week high of $23.90. The share price had its 52-week low at $7.05, which suggests the last value was 14.23% up since then. When we look at Enovix Corporation’s average trading volume, we note the 10-day average is 6.29 million shares, with the 3-month average coming to 4.54 million.
Enovix Corporation (NASDAQ:ENVX) trade information
Instantly ENVX was in red as seen at the end of in last trading. With action 4.85%, the performance over the past five days has been green. The drop to weekly highs of 9.03 subtracted -5.30% to the stock’s daily price. The company’s shares are showing year-to-date downside of -34.35%, with the 5-day performance at 4.85% in the green. However, in the 30-day time frame, Enovix Corporation (NASDAQ:ENVX) is -15.43% down. Looking at the short shares, we see there were 36.6 million shares sold at short interest cover period of 8.08 days.
Enovix Corporation (ENVX) estimates and forecasts
Data shows that the Enovix Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -33.23% over the past 6 months, a -3.45% in annual growth rate that is considerably lower than the industry average of 9.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Enovix Corporation will fall -45.00%, while the growth in revenue is estimated to hit -15.80% for the next quarter. Year-over-year growth is forecast to reach 192.40% up from the last financial year.
Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $3.88 million. 12 analysts are of the opinion that Enovix Corporation’s revenue for the quarter ending Jun 2024 will be $4.08 million. The company’s revenue for the corresponding quarters a year ago was $40k. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9,600.00%.
The 2024 estimates are for Enovix Corporation earnings to decrease by -14.92%.
ENVX Dividends
Enovix Corporation is expected to release its next quarterly earnings report between April 24 and April 29.
Enovix Corporation (NASDAQ:ENVX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 15.79% of Enovix Corporation shares while 52.78% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.68%. There are 52.78% institutions holding the Enovix Corporation stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 7.08% of the shares, roughly 11.34 million ENVX shares worth $204.63 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.39% or 8.64 million shares worth $155.79 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 3.72 million shares estimated at $67.1 million under it, the former controlled 2.32% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.95% of the shares, roughly 3.12 million shares worth around $42.97 million.
