At the time of writing, Enovix Corporation [ENVX] stock is trading at $9.43, up 3.63%. An important factor to consider is whether the stock is rising or falling in short-term value. The ENVX shares have gain 11.20% over the last week, with a monthly amount drifted -13.29%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Enovix Corporation [NASDAQ: ENVX] stock has seen the most recent analyst activity on October 31, 2024, when Janney downgraded its rating to a Neutral. Previously, The Benchmark Company started tracking the stock with Buy rating on July 22, 2024, and set its price target to $25. On December 18, 2023, William Blair initiated with a Outperform rating. TD Cowen downgraded its rating to a Market Perform and increased its price target to $20 on July 21, 2023. Canaccord Genuity initiated its recommendation with a Buy and recommended $20 as its price target on January 11, 2023. B. Riley Securities started tracking with a Buy rating for this stock on December 02, 2022, and assigned it a price target of $19. In a note dated November 04, 2022, Janney initiated an Buy rating and provided a target price of $23 on this stock.
For the past year, the stock price of Enovix Corporation fluctuated between $5.70 and $18.68. Currently, Wall Street analysts expect the stock to reach $21.17 within the next 12 months. Enovix Corporation [NASDAQ: ENVX] shares were valued at $9.43 at the most recent close of the market. An investor can expect a potential return of 124.5% based on the average ENVX price forecast.
Analyzing the ENVX fundamentals
According to Enovix Corporation [NASDAQ:ENVX], the company’s sales were 20.74M for trailing twelve months, which represents an 2058.50% jump. Gross Profit Margin for this corporation currently stands at -1.89% with Operating Profit Margin at -16.49%, Pretax Profit Margin comes in at -14.68%, and Net Profit Margin reading is -14.34%. To continue investigating profitability, this company’s Return on Assets is posted at -0.49, Equity is -1.05 and Total Capital is -0.65. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.14.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 9.17 points at the first support level, and at 8.92 for the second support level. However, for the 1st resistance point, the stock is sitting at 9.59, and for the 2nd resistance point, it is at 9.75.
Ratios To Look Out For
It is important to note that Enovix Corporation [NASDAQ:ENVX] has a current ratio of 3.77. On the other hand, the Quick Ratio is 3.61, and the Cash Ratio is 3.46. Considering the valuation of this stock, the price to sales ratio is 88.76, the price to book ratio is 9.99.
Transactions by insiders
Recent insider trading involved Chakravarthy Arthi, Chief Legal Officer, that happened on Oct 14 ’24 when 35000.0 shares were sold. Officer, Chakravarthy Arthi completed a deal on Oct 14 ’24 to buy 35000.0 shares. Meanwhile, Director Reichow Gregory sold 7500.0 shares on Jun 20 ’24.
