Enovix (ENVX) Projected to Post Earnings on Tuesday

Enovix (NASDAQ:ENVX) is expected to be posting its quarterly earnings results after the market closes on Tuesday, February 18th. Analysts expect Enovix to post earnings of ($0.19) per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Enovix Stock Up 0.1 %

ENVX stock opened at $11.79 on Tuesday. The firm’s 50-day moving average is $10.86 and its two-hundred day moving average is $10.39. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -7.32 and a beta of 1.87. Enovix has a 52 week low of $5.70 and a 52 week high of $18.68.

Analysts Set New Price Targets

Several equities 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 target on the stock. in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of Enovix in a research report on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $25.00 price target on shares of Enovix in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Insiders Place Their Bets

In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.73, for a total transaction of $729,750.00. Following the sale, the director now directly owns 99,497 shares of the company’s stock, valued at $968,105.81. The trade was a 42.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.70% of the company’s stock.

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.