After finishing at $8.68 in the prior trading day, Enovix Corporation (NASDAQ: ENVX) closed at $8.22, down -5.30%. In other words, the price has decreased by -$0.46 from its previous closing price. On the day, 3233603 shares were traded.
Ratios:
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 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 1.39B and an Enterprise Value of 1.27B. For the stock, the TTM Price-to-Sale (P/S) ratio is 181.29 while its Price-to-Book (P/B) ratio in mrq is 5.33. Its current Enterprise Value per Revenue stands at 166.00 whereas that against EBITDA is -7.20.
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 9.78, while the 200-Day Moving Average is calculated to be 12.80.
Shares Statistics:
The stock has traded on average 4.54M shares per day over the past 3-months and 6.29M shares per day over the last 10 days, according to various share statistics. 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 51.16% stake in the company. Shares short for ENVX as of Feb 29, 2024 were 36.6M with a Short Ratio of 8.06, 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
Its stock is currently analyzed by 10 different market 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.
