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Enovix Corporation (ENVX) – Don’t Be So Quick to Call it Dead

Enovix Corporation (NASDAQ: ENVX) is -27.46% lower on its value in year-to-date trading and has touched a low of $7.26 and a high of $39.48 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ENVX stock was last observed hovering at around $21.88 in the last trading session, with the day’s loss setting it -2.09%.

Currently trading at $19.79, the stock is -9.82% and 11.30% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.66 million and changing -9.55% at the moment leaves the stock 26.38% off its SMA200. ENVX registered 11.87% gain for a year compared to 6-month gain of 38.88%.

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The stock witnessed a -7.22% loss in the last 1 month and extending the period to 3 months gives it a 81.56%, and is -19.16% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 11.05% over the week and 11.04% over the month.

Enovix Corporation (ENVX) has around 215 employees, a market worth around $3.50B and $5.10M in sales. Distance from 52-week low is 172.59% and -49.87% from its 52-week high.

Enovix Corporation (ENVX) Analyst Forecasts

Enovix Corporation is expected to release its quarterly report on 11/07/2022.The EPS is expected to grow by 9.20% this year

Enovix Corporation (ENVX) Top Institutional Holders

The shares outstanding are 152.52M, and float is at 127.52M with Short Float at 10.23%.

Enovix Corporation (ENVX) Insider Activity

A total of 50 insider transactions have happened at Enovix Corporation (ENVX) in the last six months, with sales accounting for 19 and purchases happening 31 times. The most recent transaction is an insider sale by Lahiri Ashok, the company’s Chief Technology Officer. SEC filings show that Lahiri Ashok sold 10,000 shares of the company’s common stock on Sep 15 at a price of $25.00 per share for a total of $0.25 million. Following the sale, the insider now owns 1.37 million shares.

Enovix Corporation disclosed in a document filed with the SEC on Sep 15 that RUST HARROLD J (President and CEO) sold a total of 3,000 shares of the company’s common stock. The trade occurred on Sep 15 and was made at $24.50 per share for $73500.0. Following the transaction, the insider now directly holds 1.37 million shares of the ENVX stock.

Still, SEC filings show that on Sep 13, RUST HARROLD J (President and CEO) disposed off 4,500 shares at an average price of $20.46 for $92070.0. The insider now directly holds 1,375,031 shares of Enovix Corporation (ENVX).

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