Enovix Co. (NASDAQ:ENVX – Get Free Report) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 49,510,000 shares, an increase of 5.0% from the August 15th total of 47,150,000 shares. Approximately 33.9% of the shares of the company are sold short. Based on an average daily trading volume, of 6,200,000 shares, the short-interest ratio is presently 8.0 days.
Enovix Trading Up 1.4 %
Enovix stock traded up $0.12 during mid-day trading on Thursday, hitting $8.61. The company’s stock had a trading volume of 1,181,158 shares, compared to its average volume of 5,435,188. Enovix has a one year low of $5.70 and a one year high of $18.68. The stock has a market cap of $1.52 billion, a PE ratio of -6.34 and a beta of 1.99. The company has a 50 day moving average of $11.89 and a 200-day moving average of $10.55. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.84 and a current ratio of 3.98.
Enovix (NASDAQ:ENVX – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. The company had revenue of $3.77 million during the quarter, compared to analysts’ expectations of $3.85 million. Enovix had a negative net margin of 1,434.34% and a negative return on equity of 91.21%. On average, research analysts anticipate that Enovix will post -1.21 EPS for the current year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
ENVX has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price objective on shares of Enovix from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Craig Hallum increased their price objective on shares of Enovix from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 1st. B. Riley raised shares of Enovix to a “strong-buy” rating in a report on Tuesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a report on Thursday, August 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enovix in a research note on Monday, August 26th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Enovix presently has an average rating of “Buy” and an average target price of $21.33.
Check Out Our Latest Stock Analysis on Enovix
About Enovix
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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