Enovix (NASDAQ:ENVX - Get Free Report) is scheduled to release its earnings data after the market closes on Wednesday, May 1st. Analysts expect Enovix to post earnings of ($0.34) per share for the quarter. Enovix has set its Q1 guidance at $(0.35)-$(0.29) EPS and its Q1 2024 guidance at -0.350--0.290 EPS.Parties that are interested in registering for the company's conference call can do so using this link.
Enovix (NASDAQ:ENVX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.01). The business had revenue of $7.38 million for the quarter, compared to analyst estimates of $3.37 million. Enovix had a negative net margin of 2,800.51% and a negative return on equity of 77.74%. On average, analysts expect Enovix to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.
Enovix Price Performance
ENVX stock traded down $0.01 during trading on Wednesday, hitting $6.02. The company had a trading volume of 2,598,300 shares, compared to its average volume of 4,410,882. The business has a 50 day moving average of $8.42 and a 200 day moving average of $10.16. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -3.93 and a beta of 1.62. The company has a current ratio of 5.30, a quick ratio of 5.15 and a debt-to-equity ratio of 0.65. Enovix has a fifty-two week low of $5.80 and a fifty-two week high of $23.90.
Insider Transactions at Enovix
In related news, COO Ajay Marathe sold 4,954 shares of the stock in a transaction that occurred on Sunday, April 14th. The shares were sold at an average price of $7.31, for a total transaction of $36,213.74. Following the completion of the sale, the chief operating officer now directly owns 978,913 shares of the company's stock, valued at $7,155,854.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.30% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of Enovix in a research note on Wednesday, February 21st. Canaccord Genuity Group restated a "buy" rating and issued a $17.00 target price on shares of Enovix in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.00.
Check Out Our Latest Analysis on ENVX
About Enovix
(
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Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.
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