During the last session, Enovix Corporation (NASDAQ:ENVX)’s traded shares were 4.04 million, with the beta value of the company hitting 1.96. At the end of the trading day, the stock’s price was $9.10, reflecting an intraday gain of 1.00% or $0.09. The 52-week high for the ENVX share is $18.68, that puts it down -105.27 from that peak though still a striking 37.36% gain since the share price plummeted to a 52-week low of $5.70. The company’s market capitalization is $1.71B, and the average intraday trading volume over the past 10 days was 4.92 million shares, and the average trade volume was 5.94 million shares over the past three months.
Enovix Corporation (ENVX) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.33. ENVX has a Sell rating from 0 analyst(s) out of 9 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 8 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.18.
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Enovix Corporation (NASDAQ:ENVX) trade information
Enovix Corporation (ENVX) registered a 1.00% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.00% in intraday trading to $9.10, hitting a weekly high. The stock’s 5-day price performance is 2.82%, and it has moved by -13.46% in 30 days. Based on these gigs, the overall price performance for the year is -17.35%. The short interest in Enovix Corporation (NASDAQ:ENVX) is 48.48 million shares and it means that shorts have 6.72 day(s) to cover.
The consensus price target of analysts on Wall Street is $22, which implies an increase of 58.64% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $5 and $36 respectively. As a result, ENVX is trading at a discount of -295.6% off the target high and 45.05% off the low.
Enovix Corporation (ENVX) estimates and forecasts
Statistics show that Enovix Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Enovix Corporation (ENVX) shares have gone down -5.31% during the last six months, with a year-to-date growth rate more than the industry average at 6.90% against -8.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 35.19% this quarter and then jump 45.62% in the quarter after that. In the rating firms’ projections, revenue will increase 189.73% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 8.77M as predicted by 12 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to 6.09M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 7.38M and 5.27M respectively. In this case, analysts expect current quarter sales to grow by 18.83% and then jump by 15.53% in the coming quarter.
While earnings are projected to return 7.33% in 2024.
ENVX Dividends
Enovix Corporation is due to release its next quarterly earnings in December. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Enovix Corporation (NASDAQ:ENVX)’s Major holders
Enovix Corporation insiders own 14.13% of total outstanding shares while institutional holders control 47.10%, with the float percentage being 54.85%. VANGUARD GROUP INC is the largest shareholder of the company, while 371.0 institutions own stock in it. As of 2024-06-30, the company held over 13.3 million shares (or 8.3225% of all shares), a total value of $205.65 million in shares.
The next largest institutional holding, with 10.47 million shares, is of BLACKROCK INC.’s that is approximately 6.5525% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $161.91 million.
