The closing price of Enovix Corporation (NASDAQ: ENVX) was $9.36 for the day, down -3.31% from the previous closing price of $9.68. In other words, the price has decreased by -$0.32 from its previous closing price. On the day, 3498150 shares were traded.
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 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:
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 Aug 24 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. The Director now owns 159,369 shares after completing the transaction at $16.25 per share. On Jun 20, 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 1.57B and an Enterprise Value of 1.45B. For the stock, the TTM Price-to-Sale (P/S) ratio is 206.43 while its Price-to-Book (P/B) ratio in mrq is 6.07. Its current Enterprise Value per Revenue stands at 189.55 whereas that against EBITDA is -8.22.
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 $8.33. The 50-Day Moving Average of the stock is 10.94, while the 200-Day Moving Average is calculated to be 13.10.
Shares Statistics:
ENVX traded an average of 4.26M shares per day over the past three months and 5.14M 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 51.17% stake in the company. Shares short for ENVX as of Feb 15, 2024 were 35.69M with a Short Ratio of 8.37, compared to 33.93M on Jan 12, 2024. Therefore, it implies a Short% of Shares Outstanding of 21.32% and a Short% of Float of 24.67%.
Earnings Estimates
The firm’s stock currently is rated by 9 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 -$0.21, with high estimates of -$0.16 and low estimates of -$0.31.
Analysts are recommending an EPS of between -$0.79 and -$1.26 for the fiscal current year, implying an average EPS of -$0.95. EPS for the following year is -$0.81, with 9 analysts recommending between -$0.59 and -$1.15.
Revenue Estimates
A total of 11 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 $22.24M. In the same quarter a year ago, actual revenue was $7.64M, up 190.90% from the average estimate. Based on 11 analysts’ estimates, the company’s revenue will be $118.53M 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 433.00% from the average revenue estimate for this year.
