Enovix Corporation (NASDAQ: ENVX) closed the day trading at $7.55 down -2.33% from the previous closing price of $7.73. In other words, the price has decreased by -$0.18 from its previous closing price. On the day, 1826788 shares were traded.
Ratios:
For a better understanding of ENVX, let’s look at 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:
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 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 1.27B and an Enterprise Value of 1.16B. For the stock, the TTM Price-to-Sale (P/S) ratio is 166.52 while its Price-to-Book (P/B) ratio in mrq is 4.90. Its current Enterprise Value per Revenue stands at 151.45 whereas that against EBITDA is -6.57.
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 $7.05. The 50-Day Moving Average of the stock is 9.34, while the 200-Day Moving Average is calculated to be 12.52.
Shares Statistics:
Over the past 3-months, ENVX traded about 4.41M shares per day on average, while over the past 10 days, ENVX traded about 2.89M shares per day. A total of 167.39M shares are outstanding, with a floating share count of 138.06M. Insiders hold about 18.07% of the company’s shares, while institutions hold 51.14% stake in the company. Shares short for ENVX as of Mar 15, 2024 were 38.68M with a Short Ratio of 8.78, compared to 35.69M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 22.95% and a Short% of Float of 26.53%.
Earnings Estimates
Current recommendations for the stock of the company come from 10 analysts. 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.
