Market Recap Check: Enovix Corporation (ENVX)’s Positive Finish at 12.00, Up/Down 0.59

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The price of Enovix Corporation (NASDAQ: ENVX) closed at $12.00 in the last session, up 0.59% from day before closing price of $11.93. In other words, the price has increased by $0.59 from its previous closing price. On the day, 4.45 million shares were traded. ENVX stock price reached its highest trading level at $12.0185 during the session, while it also had its lowest trading level at $11.44.

Ratios:

We take a closer look at ENVX’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 4.77 and its Current Ratio is at 4.89. In the meantime, Its Debt-to-Equity ratio is 0.84 whereas as Long-Term Debt/Eq ratio is at 0.80.

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:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Jun 20 ’24 when Reichow Gregory sold 7,500 shares for $12.14 per share. The transaction valued at 91,050 led to the insider holds 8,129 shares of the business.

Marathe Ajay sold 4,954 shares of ENVX for $36,214 on Apr 14 ’24. The Chief Operating Officer now owns 978,913 shares after completing the transaction at $7.31 per share. On Aug 24 ’23, another insider, Talluri Rajendra K, who serves as the President and CEO of the company, bought 1,434 shares for $13.94 each. As a result, the insider paid 19,990 and bolstered with 2,018,901 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 2040000000 and an Enterprise Value of 1974367616. For the stock, the TTM Price-to-Sale (P/S) ratio is 158.26 while its Price-to-Book (P/B) ratio in mrq is 8.88. Its current Enterprise Value per Revenue stands at 153.111 whereas that against EBITDA is -13.892.

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 $5.70. The 50-Day Moving Average of the stock is 29.86%, while the 200-Day Moving Average is calculated to be 15.23%.

Shares Statistics:

According to the various share statistics, ENVX traded on average about 5.36M shares per day over the past 3-months and 5561110 shares per day over the past 10 days. A total of 167.39M shares are outstanding, with a floating share count of 139.96M. Insiders hold about 17.67% of the company’s shares, while institutions hold 49.21% stake in the company. Shares short for ENVX as of 1715731200 were 43102017 with a Short Ratio of 8.18, compared to 1713139200 on 41804293. Therefore, it implies a Short% of Shares Outstanding of 43102017 and a Short% of Float of 36.5.

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