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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 the most recent trading day at $11.80, moving -0.25% from the previous trading session. This change lagged the S&P 500's daily gain of 0.4%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, added 0.45%.
Coming into today, shares of the company had lost 15.08% in the past month. In that same time, the Oils-Energy sector gained 3.39%, while the S&P 500 lost 1.38%.
Enovix Corporation will be looking to display strength as it nears its next earnings release. On that day, Enovix Corporation is projected to report earnings of -$0.24 per share, which would represent a year-over-year decline of 60%. Meanwhile, our latest consensus estimate is calling for revenue of $0.59 million, up 5810% from the prior-year quarter.
ENVX's full-year Zacks Consensus Estimates are calling for earnings of -$0.87 per share and revenue of $4.42 million. These results would represent year-over-year changes of -47.46% and -28.76%, respectively.
Any recent changes to analyst estimates for Enovix Corporation should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 the most recent trading day at $11.80, moving -0.25% from the previous trading session. This change lagged the S&P 500's daily gain of 0.4%. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, added 0.45%.
Coming into today, shares of the company had lost 15.08% in the past month. In that same time, the Oils-Energy sector gained 3.39%, while the S&P 500 lost 1.38%.
Enovix Corporation will be looking to display strength as it nears its next earnings release. On that day, Enovix Corporation is projected to report earnings of -$0.24 per share, which would represent a year-over-year decline of 60%. Meanwhile, our latest consensus estimate is calling for revenue of $0.59 million, up 5810% from the prior-year quarter.
ENVX's full-year Zacks Consensus Estimates are calling for earnings of -$0.87 per share and revenue of $4.42 million. These results would represent year-over-year changes of -47.46% and -28.76%, respectively.
Any recent changes to analyst estimates for Enovix Corporation should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 155, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.