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Enovix Corporation (ENVX) Stock Sinks As Market Gains: What You Should Know
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Enovix Corporation (ENVX - Free Report) closed at $14.50 in the latest trading session, marking a -1.36% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.29%.
Heading into today, shares of the company had lost 5.28% over the past month, lagging the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
Enovix Corporation will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.24, down 60% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $0.59 million, up 5810% from the prior-year quarter.
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.
It is also important to note the recent changes to analyst estimates for Enovix Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Enovix Corporation is holding a Zacks Rank of #3 (Hold) right now.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.
To follow ENVX in the coming trading sessions, be sure to utilize Zacks.com.
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Enovix Corporation (ENVX) Stock Sinks As Market Gains: What You Should Know
Enovix Corporation (ENVX - Free Report) closed at $14.50 in the latest trading session, marking a -1.36% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.29%.
Heading into today, shares of the company had lost 5.28% over the past month, lagging the Oils-Energy sector's gain of 3.12% and the S&P 500's gain of 0.09% in that time.
Enovix Corporation will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.24, down 60% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $0.59 million, up 5810% from the prior-year quarter.
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.
It is also important to note the recent changes to analyst estimates for Enovix Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Enovix Corporation is holding a Zacks Rank of #3 (Hold) right now.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.
To follow ENVX in the coming trading sessions, be sure to utilize Zacks.com.