Enovix (ENVX) to Release Quarterly Earnings on Wednesday

Enovix (NASDAQ:ENVX) is projected to post its quarterly earnings results after the market closes on Wednesday, February 19th. Analysts expect Enovix to post earnings of ($0.18) per share and revenue of $8.77 million for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Enovix Trading Up 3.9 %

NASDAQ:ENVX opened at $11.45 on Monday. The stock has a 50-day simple moving average of $10.96 and a 200-day simple moving average of $10.29. The stock has a market cap of $2.04 billion, a P/E ratio of -7.11 and a beta of 1.87. Enovix has a 1 year low of $5.70 and a 1 year high of $18.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.61 and a current ratio of 3.77.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Janney Montgomery Scott cut Enovix from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on Enovix from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Enovix currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Insider Activity

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the company’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 directly owns 99,497 shares of the company’s stock, valued at $968,105.81. This represents a 42.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.70% of the company’s stock.

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.