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Why the Market Dipped But Enovix Corporation (ENVX) Gained Today
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Enovix Corporation (ENVX - Free Report) closed the latest trading day at $7.84, indicating a +1.03% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.65%. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.96%.
Shares of the company have depreciated by 33.68% over the course of the past month, underperforming the Oils-Energy sector's gain of 6.72% and the S&P 500's gain of 3.27%.
The upcoming earnings release of Enovix Corporation will be of great interest to investors. The company's upcoming EPS is projected at -$0.28, signifying a 40% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.23 million, reflecting a 21040% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.90 per share and a revenue of $22.38 million, indicating changes of -3.45% and +192.71%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Enovix Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.79% upward. Enovix Corporation currently has a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Why the Market Dipped But Enovix Corporation (ENVX) Gained Today
Enovix Corporation (ENVX - Free Report) closed the latest trading day at $7.84, indicating a +1.03% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.65%. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.96%.
Shares of the company have depreciated by 33.68% over the course of the past month, underperforming the Oils-Energy sector's gain of 6.72% and the S&P 500's gain of 3.27%.
The upcoming earnings release of Enovix Corporation will be of great interest to investors. The company's upcoming EPS is projected at -$0.28, signifying a 40% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.23 million, reflecting a 21040% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.90 per share and a revenue of $22.38 million, indicating changes of -3.45% and +192.71%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Enovix Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.79% upward. Enovix Corporation currently has a Zacks Rank of #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.