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Enovix Corporation (ENVX) Ascends While Market Falls: Some Facts to Note
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Enovix Corporation (ENVX - Free Report) closed the most recent trading day at $7.73, moving +1.58% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.23%. On the other hand, the Dow registered a loss of 1.36%, and the technology-centric Nasdaq decreased by 1.4%.
Heading into today, shares of the company had lost 18.7% over the past month, lagging the Oils-Energy sector's gain of 9.61% and the S&P 500's gain of 1.61% in that time.
The investment community will be closely monitoring the performance of Enovix Corporation in its forthcoming earnings report. The company is expected to report EPS of -$0.28, down 40% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.23 million, up 21040% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.90 per share and a revenue of $22.38 million, signifying shifts of -3.45% and +192.71%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Enovix Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 remained stagnant within the past month. Enovix Corporation is currently a Zacks Rank #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Enovix Corporation (ENVX) Ascends While Market Falls: Some Facts to Note
Enovix Corporation (ENVX - Free Report) closed the most recent trading day at $7.73, moving +1.58% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.23%. On the other hand, the Dow registered a loss of 1.36%, and the technology-centric Nasdaq decreased by 1.4%.
Heading into today, shares of the company had lost 18.7% over the past month, lagging the Oils-Energy sector's gain of 9.61% and the S&P 500's gain of 1.61% in that time.
The investment community will be closely monitoring the performance of Enovix Corporation in its forthcoming earnings report. The company is expected to report EPS of -$0.28, down 40% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.23 million, up 21040% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.90 per share and a revenue of $22.38 million, signifying shifts of -3.45% and +192.71%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Enovix Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 remained stagnant within the past month. Enovix Corporation is currently a Zacks Rank #3 (Hold).
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.