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Enovix Corporation (ENVX) Dips More Than Broader Markets: What You Should Know
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Enovix Corporation (ENVX - Free Report) closed the most recent trading day at $20.55, moving -1.06% from the previous trading session. This move lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Heading into today, shares of the company had gained 52.38% over the past month, outpacing the Oils-Energy sector's gain of 2.92% and the S&P 500's gain of 3.39% in that time.
Investors will be hoping for strength from Enovix Corporation as it approaches its next earnings release, which is expected to be July 26, 2023. In that report, analysts expect Enovix Corporation to post earnings of -$0.24 per share. This would mark a year-over-year decline of 84.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $0.27 million, down 94.71% from the year-ago period.
ENVX's full-year Zacks Consensus Estimates are calling for earnings of -$0.89 per share and revenue of $1.3 million. These results would represent year-over-year changes of -50.85% and -79.02%, respectively.
Investors should also note any recent changes to analyst estimates for Enovix Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.33% lower within the past month. Enovix Corporation is currently a Zacks Rank #4 (Sell).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Enovix Corporation (ENVX) Dips More Than Broader Markets: What You Should Know
Enovix Corporation (ENVX - Free Report) closed the most recent trading day at $20.55, moving -1.06% from the previous trading session. This move lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Heading into today, shares of the company had gained 52.38% over the past month, outpacing the Oils-Energy sector's gain of 2.92% and the S&P 500's gain of 3.39% in that time.
Investors will be hoping for strength from Enovix Corporation as it approaches its next earnings release, which is expected to be July 26, 2023. In that report, analysts expect Enovix Corporation to post earnings of -$0.24 per share. This would mark a year-over-year decline of 84.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $0.27 million, down 94.71% from the year-ago period.
ENVX's full-year Zacks Consensus Estimates are calling for earnings of -$0.89 per share and revenue of $1.3 million. These results would represent year-over-year changes of -50.85% and -79.02%, respectively.
Investors should also note any recent changes to analyst estimates for Enovix Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.33% lower within the past month. Enovix Corporation is currently a Zacks Rank #4 (Sell).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.