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Enovix Corporation (ENVX) – key numbers that make it a Strong Buy For Now

Enovix Corporation (NASDAQ: ENVX) is -35.77% lower on its value in year-to-date trading and has touched a low of $6.50 and a high of $26.30 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 $8.22 in the last trading session, with the day’s loss setting it -0.23% off its average median price target of $24.00 for the next 12 months. It is also 92.01% off the consensus price target high of $100.00 offered by 12 analysts, but current levels are 55.61% higher than the price target low of $18.00 for the same period.

Currently trading at $7.99, the stock is -14.08% and -27.82% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.48 million and changing -2.80% at the moment leaves the stock -40.96% off its SMA200. ENVX registered -50.53% loss for a year compared to 6-month gain of -25.12%.

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The stock witnessed a -28.28% loss in the last 1 month and extending the period to 3 months gives it a -51.52%, and is -3.73% 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 6.18% over the week and 8.20% over the month.

Enovix Corporation (ENVX) has around 215 employees, a market worth around $1.22B and $5.10M in sales. Distance from 52-week low is 22.93% and -69.62% from its 52-week high.

Enovix Corporation (ENVX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Enovix Corporation (ENVX) is a “Buy”. 12 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Enovix Corporation is expected to release its quarterly report on 05/10/2023.The EPS is expected to grow by 12.30% this year.

Enovix Corporation (ENVX) Top Institutional Holders

The shares outstanding are 153.33M, and float is at 127.53M with Short Float at 11.93%.

Enovix Corporation (ENVX) Insider Activity

A total of 42 insider transactions have happened at Enovix Corporation (ENVX) in the last six months, with sales accounting for 39 and purchases happening 3 times. The most recent transaction is an insider sale by Lahiri Ashok,the company’sChief Technology Officer. SEC filings show that Lahiri Ashok sold 2,000 shares of the company’s common stock on Jan 03 at a price of $12.81 per share for a total of $25620.0. Following the sale, the insider now owns 1.36 million shares.

Enovix Corporation disclosed in a document filed with the SEC on Dec 01 that Lahiri Ashok (Chief Technology Officer) sold a total of 2,000 shares of the company’s common stock. The trade occurred on Dec 01 and was made at $12.88 per share for $25760.0. Following the transaction, the insider now directly holds 1.36 million shares of the ENVX stock.

Still, SEC filings show that on Nov 01, RUST HARROLD J (President and CEO) disposed off 2,000 shares at an average price of $18.77 for $37540.0. The insider now directly holds 1,365,531 shares of Enovix Corporation (ENVX).

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