Enovix (NASDAQ:ENVX – Get Free Report) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $(0.23)-(0.17) for the period, compared to the consensus EPS estimate of ($0.21). The company issued revenue guidance of $3.50-4.50 million, compared to the consensus revenue estimate of $5.30 million.
Enovix Trading Up 2.2 %
Shares of NASDAQ ENVX traded up $0.31 during trading on Wednesday, reaching $14.41. The stock had a trading volume of 6,864,439 shares, compared to its average volume of 5,346,684. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.77 and a current ratio of 4.89. The company has a market cap of $2.45 billion, a P/E ratio of -10.79 and a beta of 2.04. Enovix has a fifty-two week low of $5.70 and a fifty-two week high of $21.59. The business’s 50-day moving average price is $13.76 and its 200-day moving average price is $10.61.
Enovix (NASDAQ:ENVX – Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The business had revenue of $5.27 million during the quarter, compared to analyst estimates of $4.16 million. Enovix had a negative net margin of 1,448.90% and a negative return on equity of 85.47%. On average, equities research analysts predict that Enovix will post -1.14 EPS for the current fiscal year.
Analyst Ratings Changes
Read Our Latest Report on Enovix
Insider Buying and Selling
In other news, Director Gregory Reichow sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $12.14, for a total value of $91,050.00. Following the completion of the transaction, the director now directly owns 8,129 shares in the company, valued at approximately $98,686.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.30% of the stock is currently owned by corporate insiders.
Enovix Company Profile
Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.
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