Is There More Upside Ahead For Enovix Corporation (NASDAQ: ENVX)

Enovix Corporation (ENVX) concluded trading on Wednesday at a closing price of $11.90, with 6.37 million shares of worth about $75.85 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -16.96% during that period and on January 29, 2025 the price saw a gain of about 4.66%. Currently the company’s common shares owned by public are about 177.59M shares, out of which, 159.90M shares are available for trading.

Stock saw a price change of 4.02% in past 5 days and over the past one month there was a price change of 4.20%. Year-to-date (YTD), ENVX shares are showing a performance of 9.48% which increased to 23.19% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.70 but also hit the highest price of $18.68 during that period. The average intraday trading volume for Enovix Corporation shares is 6.88 million. The stock is currently trading 2.23% above its 20-day simple moving average (SMA20), while that difference is up 15.80% for SMA50 and it goes to 10.88% higher than SMA200.

Enovix Corporation (NASDAQ: ENVX) currently have 177.59M outstanding shares and institutions hold larger chunk of about 46.48% of that.

The stock has a current market capitalization of $2.24B and its 3Y-monthly beta is at 1.85. It has posted earnings per share of -$1.62 in the same period. It has Quick Ratio of 3.61 while making debt-to-equity ratio of 1.16. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ENVX, volatility over the week remained 9.18% while standing at 8.89% over the month.

Stock’s fiscal year EPS is expected to rise by 7.47% while it is estimated to increase by 22.05% in next year.

Coverage by The Benchmark Company stated Enovix Corporation (ENVX) stock as a Buy in their note to investors on July 22, 2024, suggesting a price target of $25 for the stock. On December 18, 2023, William Blair Initiated their recommendations, while on July 21, 2023, TD Cowen Downgrade their ratings for the stock with a price target of $20. Stock get a Buy rating from Canaccord Genuity on January 11, 2023.

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