As of close of business last night, Enovix Corporation’s stock clocked out at $7.33, down -6.51% from its previous closing price of $7.84. In other words, the price has decreased by -$0.51 from its previous closing price. On the day, 8779010 shares were traded.
Ratios:
To gain a deeper understanding of ENVX’s stock, we examine its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 5.15 and its Current Ratio is at 5.30. In the meantime, Its Debt-to-Equity ratio is 0.74 whereas as Long-Term Debt/Eq ratio is at 0.72.
On July 21, 2023, TD Cowen Downgraded its rating to Market Perform which previously was Outperform and also upped its target price recommendation from $19 to $20.
On January 11, 2023, Canaccord Genuity started tracking the stock assigning a Buy rating and target price of $20.Canaccord Genuity initiated its Buy rating on January 11, 2023, with a $20 target price.
Insider Transactions:
Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Aug 24 ’23 when Talluri Rajendra K bought 1,434 shares for $13.94 per share. The transaction valued at 19,990 led to the insider holds 2,018,901 shares of the business.
ATKINS BETSY S sold 36,000 shares of ENVX for $585,000 on Aug 11 ’23. The Director now owns 159,369 shares after completing the transaction at $16.25 per share. On Jun 20 ’23, another insider, ATKINS BETSY S, who serves as the Director of the company, sold 4,528 shares for $15.02 each. As a result, the insider received 68,011 and left with 195,369 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, ENVX now has a Market Capitalization of 1.32B and an Enterprise Value of 1.20B. For the stock, the TTM Price-to-Sale (P/S) ratio is 161.66 while its Price-to-Book (P/B) ratio in mrq is 4.75. Its current Enterprise Value per Revenue stands at 157.62 whereas that against EBITDA is -6.83.
Stock Price History:
Over the past 52 weeks, ENVX has reached a high of $23.90, while it has fallen to a 52-week low of $7.34. The 50-Day Moving Average of the stock is 10.10, while the 200-Day Moving Average is calculated to be 12.91.
Shares Statistics:
It appears that ENVX traded 4.38M shares on average per day over the past three months and 5.56M shares per day over the past ten days. A total of 167.39M shares are outstanding, with a floating share count of 138.05M. Insiders hold about 18.08% of the company’s shares, while institutions hold 51.16% stake in the company. Shares short for ENVX as of Feb 29, 2024 were 36.6M with a Short Ratio of 8.35, compared to 33.91M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 21.72% and a Short% of Float of 25.11%.
Earnings Estimates
As of right now, 10 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of -$0.29 for the current quarter, with a high estimate of -$0.19 and a low estimate of -$0.33, while EPS last year was -$0.2. The consensus estimate for the next quarter is -$0.22, with high estimates of -$0.16 and low estimates of -$0.32.
Analysts are recommending an EPS of between -$0.79 and -$1.27 for the fiscal current year, implying an average EPS of -$0.98. EPS for the following year is -$0.83, with 10 analysts recommending between -$0.59 and -$1.15.
Revenue Estimates
A total of 12 analysts have provided revenue estimates for ENVX’s current fiscal year. The highest revenue estimate was $29M, while the lowest revenue estimate was $10M, resulting in an average revenue estimate of $22.35M. In the same quarter a year ago, actual revenue was $7.64M, up 192.40% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $121.15M in the next fiscal year. The high estimate is $167.7M and the low estimate is $88.13M. The average revenue growth estimate for next year is up 442.10% from the average revenue estimate for this year.
