In today’s recent session, 1.31 million shares of the Enovix Corporation (NASDAQ:ENVX) have been traded, and its beta is 1.86. Most recently the company’s share price was $10.99, and it changed around -$0.01 or -0.11% from the last close, which brings the market valuation of the company to $2.07B. ENVX at last check was trading at a discount to its 52-week high of $18.68, offering almost -69.97% off that amount. The share price’s 52-week low was $5.70, which indicates that the recent value has risen by an impressive 48.13% since then. We note from Enovix Corporation’s average daily trading volume that its 10-day average is 7.54 million shares, with the 3-month average coming to 6.27 million.
Enovix Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.33. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 2 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 -0.18 for the current quarter.
Enovix Corporation (NASDAQ:ENVX) trade information
Instantly ENVX has been showing red trend so far today with a performance of -0.11% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 11.47 on recent trading dayincreased the stock’s daily price by 4.18%. The company’s shares are currently down -12.24% year-to-date, but still up 9.77% over the last five days. On the other hand, Enovix Corporation (NASDAQ:ENVX) is 18.78% up in the 30-day period. We can see from the shorts that 49.88 million shares have been sold at a short interest cover period of 11.34 day(s).
The consensus price target as assigned by Wall Street analysts is $12, which translates to bulls needing to increase their stock price by 8.42% from its current value. Analyst projections state that ENVX is forecast to be at a low of $5 and a high of $19.
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 -22.57 percent over the past six months and at a 6.90% annual growth rate that is well above the industry average of -3.90%. The year-over-year growth rate is expected to be 189.83%, up from the previous year.
Consensus estimates provided by 12 financial analysts predict the company will bring in an average of 8.77M in revenue for the current quarter. 9 analysts expect Enovix Corporation to make 6.08M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 7.38M and 5.27M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 18.83%. Forecasts for the next quarter put sales growth at 15.32%.
ENVX Dividends
Enovix Corporation’s next quarterly earnings report is expected to be released in January.
Enovix Corporation (NASDAQ:ENVX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 14.07% of Enovix Corporation shares, and 47.02% of them are in the hands of institutional investors. The stock currently has a share float of 54.72%. Enovix Corporation stock is held by 371.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 8.3225% of the shares, which is about 13.3 million shares worth $205.65 million.
BLACKROCK INC., with 6.5525% or 10.47 million shares worth $161.91 million as of 2024-06-30, 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 Sep 30, 2024 . The former held 4.26 shares worth $46.05 million, making up 2.39% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 3.93 shares worth around $42.54 million, which represents about 2.21% of the total shares outstanding.
