It’s an appealing income play to consider Enovix Corporation (ENVX)

After finishing at $12.90 in the prior trading day, Enovix Corporation (NASDAQ: ENVX) closed at $12.25, down -5.04%. In other words, the price has decreased by -$0.65 from its previous closing price. On the day, 2445441 shares were traded. ENVX stock price reached its highest trading level at $12.66 during the session, while it also had its lowest trading level at $11.96.

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Our goal is to gain a better understanding of ENVX by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 20.30 and its Current Ratio is at 20.30. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Janney on November 04, 2022, initiated with a Buy rating and assigned the stock a target price of $23.

On September 28, 2022, Cantor Fitzgerald started tracking the stock assigning a Overweight rating and target price of $25.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Nov 01 when RUST HARROLD J sold 2,000 shares for $18.77 per share. The transaction valued at 37,540 led to the insider holds 1,365,531 shares of the business.

Lahiri Ashok sold 5,000 shares of ENVX for $95,450 on Nov 01. The Chief Technology Officer now owns 1,360,993 shares after completing the transaction at $19.09 per share. On Nov 01, another insider, Dales Gardner Cameron, who serves as the Chief Commercial Officer of the company, sold 30,000 shares for $18.55 each. As a result, the insider received 556,500 and left with 899,565 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 386.14 while its Price-to-Book (P/B) ratio in mrq is 5.24.

Stock Price History:

Over the past 52 weeks, ENVX has reached a high of $39.48, while it has fallen to a 52-week low of $7.26. The 50-Day Moving Average of the stock is 17.33, while the 200-Day Moving Average is calculated to be 14.41.

Shares Statistics:

The stock has traded on average 4.79M shares per day over the past 3-months and 3.7M shares per day over the last 10 days, according to various share statistics. A total of 153.33M shares are outstanding, with a floating share count of 127.53M. Insiders hold about 2.60% of the company’s shares, while institutions hold 56.30% stake in the company. Shares short for ENVX as of Oct 13, 2022 were 12.26M with a Short Ratio of 13.93M, compared to 12.99M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 7.80% and a Short% of Float of 11.32%.

Earnings Estimates

Its stock is currently analyzed by 7 different market analysts. On average, analysts expect EPS of -$0.16 for the current quarter, with a high estimate of -$0.14 and a low estimate of -$0.17, while EPS last year was -$0.08. The consensus estimate for the next quarter is -$0.17, with high estimates of -$0.15 and low estimates of -$0.18.

Analysts are recommending an EPS of between -$0.56 and -$0.6 for the fiscal current year, implying an average EPS of -$0.58. EPS for the following year is -$0.71, with 7 analysts recommending between -$0.58 and -$0.96.

Revenue Estimates

Based on 8 analysts’ estimates, the company’s revenue will be $22.61M in the next fiscal year. The high estimate is $27M and the low estimate is $16.02M. The average revenue growth estimate for next year is up 237.50% from the average revenue estimate for this year.