Enovix (ENVX) to Release Quarterly Earnings on Wednesday

Enovix (NASDAQ:ENVX - Get Free Report) is anticipated to issue its quarterly earnings data after the market closes on Wednesday, February 19th. Analysts expect the company to announce earnings of ($0.18) per share and revenue of $8.77 million for the quarter. Parties interested in participating in the company's conference call can do so using this link.

Enovix Trading Up 3.9 %

Shares of ENVX stock traded up $0.43 during mid-day trading on Friday, reaching $11.45. 4,233,087 shares of the stock traded hands, compared to its average volume of 6,796,657. The stock's fifty day simple moving average is $10.96 and its two-hundred day simple moving average is $10.35. Enovix has a 1-year low of $5.70 and a 1-year high of $18.68. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -7.11 and a beta of 1.87. The company has a quick ratio of 3.61, a current ratio of 3.77 and a debt-to-equity ratio of 0.99.

Analyst Ratings Changes

A number of research firms recently commented on ENVX. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Janney Montgomery Scott lowered Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price objective on the stock. in a research note on Thursday, October 31st. Benchmark reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Enovix in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their price objective on Enovix from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Enovix presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.

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Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total transaction of $729,750.00. Following the completion of the sale, the director now owns 99,497 shares in the company, valued at $968,105.81. The trade was a 42.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.70% of the stock is currently owned by corporate insiders.

Enovix Company Profile

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.