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Enovix Corporation (ENVX) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Enovix Corporation (ENVX - Free Report) closed at $13.17, marking a -1.5% move from the previous day. This change lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the company had lost 3.74% over the past month, lagging the Oils-Energy sector's gain of 4.72% and the S&P 500's gain of 2.08% in that time.
Investors will be hoping for strength from Enovix Corporation as it approaches its next earnings release. On that day, Enovix Corporation is projected to report earnings of -$0.24 per share, which would represent a year-over-year decline of 60%. Our most recent consensus estimate is calling for quarterly revenue of $0.59 million, up 5810% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.87 per share and revenue of $4.42 million. These totals would mark changes of -47.46% and -28.76%, respectively, from last year.
Any recent changes to analyst estimates for Enovix Corporation should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Enovix Corporation currently has a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Enovix Corporation (ENVX) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Enovix Corporation (ENVX - Free Report) closed at $13.17, marking a -1.5% move from the previous day. This change lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the company had lost 3.74% over the past month, lagging the Oils-Energy sector's gain of 4.72% and the S&P 500's gain of 2.08% in that time.
Investors will be hoping for strength from Enovix Corporation as it approaches its next earnings release. On that day, Enovix Corporation is projected to report earnings of -$0.24 per share, which would represent a year-over-year decline of 60%. Our most recent consensus estimate is calling for quarterly revenue of $0.59 million, up 5810% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.87 per share and revenue of $4.42 million. These totals would mark changes of -47.46% and -28.76%, respectively, from last year.
Any recent changes to analyst estimates for Enovix Corporation should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Enovix Corporation currently has a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.