Enovix Corporation (NASDAQ:ENVX) price on current trading day, rose 3.17% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $8.13.
A look at the stock’s price movement, the close in the last trading session was $7.88, moving within a range at $7.83 and $8.34. The beta value (5-Year monthly) was 1.926. Turning to its 52-week performance, $18.68 and $5.70 were the 52-week high and 52-week low respectively. Overall, ENVX moved -27.15% over the past month.
Enovix Corporation’s market cap currently stands at around $1.56 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-18.
Analysts have a consensus estimate of 4.72M for the company’s revenue for the quarter, with a low and high estimate of 4M and 5.5M respectively. The average forecast suggests down to a -10.49% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 35M, representing a 51.69% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ENVX is a 100% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 8 recommend ENVX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ENVX’s current price about -6.07% and -21.90% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.39, while 7-day volatility ratio is 6.86% and 8.41% in the 30-day chart. Further, Enovix Corporation (ENVX) has a beta value of 1.94, and an average true range (ATR) of 0.72. Analysts have given the company’s stock an average 52-week price target of $22, forecast between a low of $5 and high of $36. Looking at the price targets, the low is 38.5% off current price level while to achieve the yearly target high, price needs to move -342.8%. Nonetheless, investors will most likely welcome a -170.6% jump to $22 which is the analysts’ median price.
If we refocus on Enovix Corporation (NASDAQ:ENVX), historical trading data shows that trading volumes averaged 5.02 over the past 10 days and 6.66 million over the past 3 months. The company’s latest data on shares outstanding shows there are 190.56 million shares.
The 14.81% of Enovix Corporation’s shares are in the hands of company insiders while institutional holders own 48.43% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 43.72 million on 2025-02-28, giving us a short ratio of 6.97. The data shows that as of 2025-02-28 short interest in Enovix Corporation (ENVX) stood at 2592.9999999999995 of shares outstanding, with shares short falling to 45.29 million registered in 2025-01-31. Current price change has pushed the stock -25.21% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ENVX stock continues to rise going into the next quarter.
