In the last trading session, 2.81 million shares of the Enovix Corporation (NASDAQ:ENVX) were traded, and its beta was 1.61. Most recently the company’s share price was $8.01, and it changed around -$0.02 or -0.25% from the last close, which brings the market valuation of the company to $1.35B. ENVX currently trades at a discount to its 52-week high of $23.90, offering almost -198.38% off that amount. The share price’s 52-week low was $7.05, which indicates that the current value has risen by an impressive 11.99% since then. We note from Enovix Corporation’s average daily trading volume that its 10-day average is 4.86 million shares, with the 3-month average coming to 4.53 million.
Enovix Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.15. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended ENVX as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Enovix Corporation is expected to report earnings per share of -$0.29 for the current quarter.
Enovix Corporation (NASDAQ:ENVX) trade information
Instantly ENVX has showed a red trend with a performance of -0.25% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -36.02% year-to-date, but still down -7.72% over the last five days. On the other hand, Enovix Corporation (NASDAQ:ENVX) is -15.33% down in the 30-day period. We can see from the shorts that 38.68 million shares have been sold at a short interest cover period of 7.67 day(s).
The consensus price target as assigned by Wall Street analysts is $26.5, which translates to bulls needing to increase their stock price by 69.77% from its current value. Analyst projections state that ENVX is forecast to be at a low of $20 and a high of $36.
Enovix Corporation (ENVX) estimates and forecasts
Enovix Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -35.51 percent over the past six months and at a -3.45% annual growth rate that is well below the industry average of 12.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -45.00% in revenue this quarter, and will report a decrease of -15.80% in the next quarter. The year-over-year growth rate is expected to be 192.40%, up from the previous year.
Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $3.88 million in revenue for the current quarter. 12 analysts expect Enovix Corporation to make $4.08 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 9,600.00%.
ENVX Dividends
Enovix Corporation’s next quarterly earnings report is expected to be released around April 24 and April 29.
Enovix Corporation (NASDAQ:ENVX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 15.78% of Enovix Corporation shares, and 52.75% of them are in the hands of institutional investors. The stock currently has a share float of 62.64%. Enovix Corporation stock is held by 363 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 7.08% of the shares, which is about 11.34 million shares worth $204.63 million.
Blackrock Inc., with 5.39% or 8.64 million shares worth $155.79 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 3.72 million shares worth $67.1 million, making up 2.32% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 3.12 million shares worth around $42.97 million, which represents about 1.95% of the total shares outstanding.
