Streetbeat News

ENVX

Enovix Corporation

https://www.enovix.com

Industry

Electrical Equipment & Parts

Enovix Corporation designs, develops, and manufactures lithium-ion batteries. The company was founded in 2007 and is headquartered in Fremont, California.

Open

8.81

Mkt cap

1.6B

Volume

4.3M

High

8.83

P/E Ratio

-5.85

52-wk high

18.68

Low

8.43

Div yield

N/A

52-wk low

5.70

Enovix (NYSE:ENVX) has seen a significant rise in its short interest, with 45.56 million shares sold short, representing 38.58% of its float. This increase in short interest suggests bearish sentiment among investors. However, it is important to note that high short interest can sometimes be bullish if short sellers are forced to cover their positions.

Portfolio Pulse from Benzinga Insights

August 12, 2024 | 8:00 pm

The article highlights significant options activity for several industrial stocks, indicating potential trading opportunities. Notable mentions include bullish sentiment for UNP, LYFT, XPO, FDX, and ZIM, and bearish sentiment for BA, GE, BLDR, ENVX, and SPR.

Portfolio Pulse from Benzinga Insights

August 06, 2024 | 5:35 pm

Enovix (NASDAQ:ENVX) has received mixed analyst ratings over the past three months, with a recent shift towards more bullish sentiments. The average 12-month price target has increased by 9.98% to $20.71. Analysts have adjusted their ratings and price targets, reflecting their responses to the company's performance and market conditions. Despite these positive shifts, Enovix faces financial challenges, including declining revenue, negative net margins, and high debt levels.

Portfolio Pulse from Benzinga Insights

August 05, 2024 | 9:00 pm

Piper Sandler analyst Alexander Potter has reiterated an Overweight rating on Enovix (NASDAQ:ENVX) but has lowered the price target from $23 to $19.