With over 5.55 million Enovix Corporation (ENVX) shares trading Tuesday and a closing price of $11.22 on the day, the dollar volume was approximately $62.27 million. The shares have shown a negative half year performance of -9.37% and its price on 11/14/23 gained nearly 7.88%. Currently, there are 157.46M common shares owned by the public and among those 135.12M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for ENVX have a consensus price objective of $29.18. The analysts have set the share’s price value over the next 12 months at a high of $100.00 and a low of $11.00. The average price target is 61.55% above its recent price level and a downside to the estimated low will see the stock lose -2.0% over that period. But an upside of 88.78% will see the stock hit the forecast high price target while median target price for the stock is $22.00.
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Insiders at the company have transacted a total of 92 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 3,707,798 shares. Insider sales of the common stock occurred on 55 occasions, with total insider shares sold totaling 347,944 shares.
Shares of Enovix Corporation (NASDAQ: ENVX) opened at $11.00, up $0.6 from a prior closing price of $10.40. However, the script later moved the day high at 11.31, up 7.88%. The company’s stock has a 5-day price change of 9.57% and -25.40% over the past three months. ENVX shares are trading -9.81% year to date (YTD), with the 12-month market performance down to -17.56% lower. It has a 12-month low price of $6.50 and touched a high of $23.90 over the same period. ENVX has an average intraday trading volume of 4.77 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.59%, -1.70%, and -13.74% respectively.
Institutional ownership of Enovix Corporation (NASDAQ: ENVX) shares accounts for 49.36% of the company’s 157.46M shares outstanding.
It has a market capitalization of $1.88B and a beta (3y monthly) value of 1.67. The earnings-per-share (ttm) stands at -$1.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.52% over the week and 7.09% over the month.
Analysts forecast that Enovix Corporation (ENVX) will achieve an EPS of $Envestnet, Inc for the current quarter, $35.47 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Entera Bio Ltd. while analysts give the company a high EPS estimate of $NOVONIX Limited – American Depo. Comparatively, EPS for the current quarter was $Enveric Biosciences, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -63.05%, and 3.74% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Enovix Corporation (ENVX) as a “Strong Buy” at a consensus score of 1.18. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 1 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ENVX, a number of firms have released research notes about the stock. TD Cowen stated their Market Perform rating for the stock in a research note on July 21, 2023, with the firm’s price target at $19-$20.
