$350,000.00 in Sales Expected for Enovix Co. (NASDAQ:ENVX) This Quarter

Wall Street analysts expect Enovix Co. (NASDAQ:ENVX – Get Rating) to announce $350,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Enovix’s earnings. The lowest sales estimate is $200,000.00 and the highest is $500,000.00. The business is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Enovix will report full year sales of $8.80 million for the current financial year, with estimates ranging from $8.60 million to $9.00 million. For the next year, analysts expect that the company will post sales of $100.39 million, with estimates ranging from $50.00 million to $131.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Enovix.

Enovix (NASDAQ:ENVX – Get Rating) last announced its quarterly earnings data on Wednesday, May 11th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03).

ENVX has been the topic of a number of research reports. Craig Hallum dropped their price target on Enovix from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, March 4th. Zacks Investment Research cut Enovix from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Enovix presently has an average rating of “Buy” and an average price target of $29.33.

Shares of Enovix stock opened at $12.10 on Thursday. The business’s 50 day simple moving average is $10.99 and its 200-day simple moving average is $17.85. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -11.52 and a beta of 1.98. Enovix has a twelve month low of $7.26 and a twelve month high of $39.48.

In other Enovix news, Director Thurman J. Rodgers acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The stock was acquired at an average cost of $9.00 per share, with a total value of $900,000.00. Following the acquisition, the director now directly owns 400,000 shares of the company’s stock, valued at approximately $3,600,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Harrold J. Rust purchased 3,500 shares of the firm’s stock in a transaction on Tuesday, March 8th. The shares were purchased at an average cost of $14.50 per share, with a total value of $50,750.00. The disclosure for this purchase can be found here. Insiders purchased a total of 123,500 shares of company stock valued at $1,242,150 over the last three months.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Electron Capital Partners LLC boosted its stake in Enovix by 2.5% during the 1st quarter. Electron Capital Partners LLC now owns 7,066,553 shares of the company’s stock valued at $100,840,000 after purchasing an additional 170,248 shares in the last quarter. Summit Partners Public Asset Management LLC boosted its stake in Enovix by 1.2% during the 1st quarter. Summit Partners Public Asset Management LLC now owns 3,582,986 shares of the company’s stock valued at $51,129,000 after purchasing an additional 41,990 shares in the last quarter. Vanguard Group Inc. boosted its stake in Enovix by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 3,059,143 shares of the company’s stock valued at $43,654,000 after purchasing an additional 157,167 shares in the last quarter. Granahan Investment Management LLC boosted its stake in Enovix by 1.5% during the 1st quarter. Granahan Investment Management LLC now owns 2,524,087 shares of the company’s stock valued at $36,019,000 after purchasing an additional 37,078 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Enovix by 1.2% during the 1st quarter. BlackRock Inc. now owns 1,498,054 shares of the company’s stock valued at $21,376,000 after purchasing an additional 18,009 shares in the last quarter. 56.82% of the stock is owned by hedge funds and other institutional investors.

Enovix Company Profile (Get Rating)

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.

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