Update from Enovix Corporation (ENVX): A steady trajectory

The closing price of Enovix Corporation (NASDAQ: ENVX) was $7.96 for the day, up 2.98% from the previous closing price of $7.73. In other words, the price has increased by $+0.23 from its previous closing price. On the day, 2574886 shares were traded. ENVX stock price reached its highest trading level at $8.15 during the session, while it also had its lowest trading level at $7.73.

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Ratios:

Our analysis of ENVX’s different ratios will help us gain a deeper understanding of the company. 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, Canaccord Genuity on January 11, 2023, initiated with a Buy rating and assigned the stock a target price of $20.

On December 02, 2022, B. Riley Securities started tracking the stock assigning a Buy rating and target price of $19.

On November 04, 2022, Janney started tracking the stock assigning a Buy rating and target price of $23.Janney initiated its Buy rating on November 04, 2022, with a $23 target price.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Jan 03 when Lahiri Ashok sold 2,000 shares for $12.81 per share. The transaction valued at 25,620 led to the insider holds 1,358,265 shares of the business.

Lahiri Ashok sold 2,000 shares of ENVX for $25,760 on Dec 01. The Chief Technology Officer now owns 1,360,265 shares after completing the transaction at $12.88 per share. On Nov 01, another insider, RUST HARROLD J, who serves as the President and CEO of the company, sold 2,000 shares for $18.77 each. As a result, the insider received 37,540 and left with 1,365,531 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 238.11 while its Price-to-Book (P/B) ratio in mrq is 3.40.

Stock Price History:

Over the past 52 weeks, ENVX has reached a high of $26.30, while it has fallen to a 52-week low of $6.50. The 50-Day Moving Average of the stock is 11.15, while the 200-Day Moving Average is calculated to be 13.56.

Shares Statistics:

ENVX traded an average of 4.50M shares per day over the past three months and 4.37M shares per day over the past ten days. 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 56.40% stake in the company. Shares short for ENVX as of Oct 13, 2022 were 12.26M with a Short Ratio of 15.22M, 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

The firm’s stock currently is rated by 7 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.