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Enovix Corporation (ENVX) Stock Drops Despite Market Gains: Important Facts to Note
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Enovix Corporation (ENVX - Free Report) closed the latest trading day at $8.70, indicating a -0.8% change from the previous session's end. This change lagged the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 1.58%, and the technology-centric Nasdaq increased by 1.16%.
Heading into today, shares of the company had lost 30.12% over the past month, lagging the Oils-Energy sector's loss of 5.73% and the S&P 500's loss of 3.58% in that time.
The upcoming earnings release of Enovix Corporation will be of great interest to investors. The company's earnings report is expected on November 7, 2023. The company is expected to report EPS of -$0.24, down 60% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $0.18 million, reflecting a 1710% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.87 per share and revenue of $3.76 million. These totals would mark changes of -47.46% and -39.42%, respectively, from last year.
Any recent changes to analyst estimates for Enovix Corporation should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Enovix Corporation presently features 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 151, which puts it in the bottom 41% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Enovix Corporation (ENVX) Stock Drops Despite Market Gains: Important Facts to Note
Enovix Corporation (ENVX - Free Report) closed the latest trading day at $8.70, indicating a -0.8% change from the previous session's end. This change lagged the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 1.58%, and the technology-centric Nasdaq increased by 1.16%.
Heading into today, shares of the company had lost 30.12% over the past month, lagging the Oils-Energy sector's loss of 5.73% and the S&P 500's loss of 3.58% in that time.
The upcoming earnings release of Enovix Corporation will be of great interest to investors. The company's earnings report is expected on November 7, 2023. The company is expected to report EPS of -$0.24, down 60% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $0.18 million, reflecting a 1710% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.87 per share and revenue of $3.76 million. These totals would mark changes of -47.46% and -39.42%, respectively, from last year.
Any recent changes to analyst estimates for Enovix Corporation should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Enovix Corporation presently features 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 151, which puts it in the bottom 41% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.