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Enovix Corporation (ENVX) Stock Falls Amid Market Uptick: What Investors Need to Know
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Enovix Corporation (ENVX - Free Report) ended the recent trading session at $11.70, demonstrating a -0.26% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.58%. At the same time, the Dow added 0.91%, and the tech-heavy Nasdaq gained 0.3%.
The company's stock has climbed by 17.3% in the past month, exceeding the Oils-Energy sector's loss of 0.35% and the S&P 500's gain of 4.61%.
Analysts and investors alike will be keeping a close eye on the performance of Enovix Corporation in its upcoming earnings disclosure. The company's earnings report is set to go public on February 20, 2024. On that day, Enovix Corporation is projected to report earnings of -$0.26 per share, which would represent a year-over-year decline of 36.84%. Simultaneously, our latest consensus estimate expects the revenue to be $3.37 million, showing a 208.72% escalation compared to the year-ago quarter.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 2.2% higher within the past month. Enovix Corporation presently features 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 174, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Enovix Corporation (ENVX) Stock Falls Amid Market Uptick: What Investors Need to Know
Enovix Corporation (ENVX - Free Report) ended the recent trading session at $11.70, demonstrating a -0.26% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.58%. At the same time, the Dow added 0.91%, and the tech-heavy Nasdaq gained 0.3%.
The company's stock has climbed by 17.3% in the past month, exceeding the Oils-Energy sector's loss of 0.35% and the S&P 500's gain of 4.61%.
Analysts and investors alike will be keeping a close eye on the performance of Enovix Corporation in its upcoming earnings disclosure. The company's earnings report is set to go public on February 20, 2024. On that day, Enovix Corporation is projected to report earnings of -$0.26 per share, which would represent a year-over-year decline of 36.84%. Simultaneously, our latest consensus estimate expects the revenue to be $3.37 million, showing a 208.72% escalation compared to the year-ago quarter.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 2.2% higher within the past month. Enovix Corporation presently features 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 174, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.