We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Enovix Corporation (ENVX) Stock Sinks As Market Gains: Here's Why
Read MoreHide Full Article
In the latest trading session, Enovix Corporation (ENVX - Free Report) closed at $9.74, marking a -0.1% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.8%. Meanwhile, the Dow experienced a rise of 0.23%, and the technology-dominated Nasdaq saw an increase of 1.14%.
Shares of the company have appreciated by 3.5% over the course of the past month, outperforming the Oils-Energy sector's gain of 2.25% and lagging the S&P 500's gain of 5.2%.
The investment community will be closely monitoring the performance of Enovix Corporation in its forthcoming earnings report. On that day, Enovix Corporation is projected to report earnings of -$0.28 per share, which would represent a year-over-year decline of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.23 million, up 21040% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.90 per share and a revenue of $22.38 million, demonstrating changes of -3.45% and +192.71%, respectively, from the preceding 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.62% higher within the past month. At present, Enovix Corporation boasts a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 172, placing it within the bottom 32% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Enovix Corporation (ENVX) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Enovix Corporation (ENVX - Free Report) closed at $9.74, marking a -0.1% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.8%. Meanwhile, the Dow experienced a rise of 0.23%, and the technology-dominated Nasdaq saw an increase of 1.14%.
Shares of the company have appreciated by 3.5% over the course of the past month, outperforming the Oils-Energy sector's gain of 2.25% and lagging the S&P 500's gain of 5.2%.
The investment community will be closely monitoring the performance of Enovix Corporation in its forthcoming earnings report. On that day, Enovix Corporation is projected to report earnings of -$0.28 per share, which would represent a year-over-year decline of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.23 million, up 21040% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.90 per share and a revenue of $22.38 million, demonstrating changes of -3.45% and +192.71%, respectively, from the preceding 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.62% higher within the past month. At present, Enovix Corporation boasts a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 172, placing it within the bottom 32% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.