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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 $21.07, moving -0.89% from the previous trading session. This move lagged the S&P 500's daily loss of 0.68%. Elsewhere, the Dow gained 0.47%, while the tech-heavy Nasdaq lost 3.19%.
Prior to today's trading, shares of the company had gained 47.43% over the past month. This has outpaced the Oils-Energy sector's gain of 1.28% and the S&P 500's gain of 3.58% in that time.
Wall Street will be looking for positivity from Enovix Corporation as it approaches its next earnings report date. This is expected to be July 26, 2023. The company is expected to report EPS of -$0.24, down 84.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $0.27 million, down 94.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.89 per share and revenue of $1.3 million, which would represent changes of -50.85% and -79.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Enovix Corporation. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.33% lower within the past month. Enovix Corporation is holding a Zacks Rank of #4 (Sell) right now.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 $21.07, moving -0.89% from the previous trading session. This move lagged the S&P 500's daily loss of 0.68%. Elsewhere, the Dow gained 0.47%, while the tech-heavy Nasdaq lost 3.19%.
Prior to today's trading, shares of the company had gained 47.43% over the past month. This has outpaced the Oils-Energy sector's gain of 1.28% and the S&P 500's gain of 3.58% in that time.
Wall Street will be looking for positivity from Enovix Corporation as it approaches its next earnings report date. This is expected to be July 26, 2023. The company is expected to report EPS of -$0.24, down 84.62% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $0.27 million, down 94.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.89 per share and revenue of $1.3 million, which would represent changes of -50.85% and -79.02%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Enovix Corporation. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.33% lower within the past month. Enovix Corporation is holding a Zacks Rank of #4 (Sell) right now.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.