Enovix Corporation (NASDAQ:ENVX) shares, rose in value on Thursday, March 06, with the stock price down by -3.94% to the previous day’s close as strong demand from buyers drove the stock to $8.28.
Actively observing the price movement in the last trading, the stock closed the session at $8.62. Referring to stock’s 52-week performance, its high was $18.68, and the low was $5.70. On the whole, ENVX has fluctuated by -29.41% over the past month.
With the market capitalization of Enovix Corporation currently standing at about $1.58 billion, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 35M, with a low estimate of 4M and a high estimate of 5.5M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 4.72M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ENVX’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of ENVX currently trading nearly -18.90% and -24.60% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.32, while the 7-day volatility ratio is showing 8.80% which for the 30-day chart, stands at 8.26%. Furthermore, Enovix Corporation (ENVX)’s beta value is 1.93, and its average true range (ATR) is 0.85.
A comparison of Enovix Corporation (ENVX) with its peers suggests the former has fared considerably weaker in the market. ENVX showed an intraday change of -3.94% in last session, and over the past year, it shrunk by -14.46%%.
Data on historical trading for Enovix Corporation (NASDAQ:ENVX) indicates that the trading volumes over the past 3 months, they’ve averaged 6.74 million. According to company’s latest data on outstanding shares, there are 190.56 million shares outstanding.
Nearly 15.18% of Enovix Corporation’s shares belong to company insiders and institutional investors own 48.46% of the company’s shares. The stock has fallen by -23.83% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ENVX stock heading into the next quarter.
