Sunday, June 26, 2022

Enovix Corporation [ENVX] stock for 900,000 USD was acquired by RODGERS THURMAN J

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Enovix Corporation shares valued at $900,000 were purchased by RODGERS THURMAN J on May 23. At $9.00 per share, RODGERS THURMAN J acquired 100,000 shares. The insider’s holdings grew to 400,000 shares worth approximately $4.36 million following the completion of this transaction.

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Also, RODGERS THURMAN J purchased 200,000 shares, netting a total of over 1,772,000 in proceeds. Following the buying of shares at $8.86 each, the insider now holds 300,000 shares.

Before that, HEJLEK EDWARD J had added 10,000 shares to its account. In a trade valued at $89,900, the insider bought Enovix Corporation shares for $8.99 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $1.87 million.

As published in their initiating research note from Cowen on January 04, 2022, Enovix Corporation [ENVX] has been an Outperform and the price target has been revised to $32. This represents a 65.94% premium over Thursday’s closing price. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid December. As of December 02, 2021, Craig Hallum has initiated its “Buy” rating for ENVX. Earlier on August 17, 2021, Oppenheimer initiated its rating. Their recommendation was “an Outperform” for ENVX stock.

Analyzing ENVX’s Price Performance

On Thursday, Enovix Corporation [NASDAQ: ENVX] plunged -1.54% to $10.90. The stock’s lowest price that day was $10.80, but it reached a high of $11.34 in the same session. During the last five days, there has been a drop of approximately -1.27%. Over the course of the year, Enovix Corporation shares have dropped approximately -60.04%. Shares of the company reached a 52-week high of $28.17 on 01/03/22 and a 52-week low of $7.26 on 05/12/22. A 50-day SMA is recorded $10.52, while a 200-day SMA reached $18.41. Nevertheless, trading volume fell to 3.16 million shares from 3.66 million shares the previous day.

Support And Resistance Levels for Enovix Corporation (ENVX)

According to the 24-hour chart, there is a support level at 10.69, which, if violated, would cause prices to drop to 10.47. In the upper region, resistance lies at 11.23. The next price resistance is at 11.55. RSI (Relative Strength Index) is 47.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.77, which suggests the price will decrease in the coming days. Percent R is at 86.89%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Enovix Corporation subject to short interest?

Stocks of Enovix Corporation saw a sharp rise in short interest on May 30, 2022 jumping by 4.02 million shares to 8.6 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 4.58 million shares. A jump of 46.74% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.81 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.81.

Which companies own the most shares of Enovix Corporation (ENVX)?

According to Park West Asset Management LLC filings, the company currently owns 14,786,112 shares, which is about 9.45% of the total ENVX shares outstanding. The investor’s shares have appreciated by 2,313,487 from its previous 13-F filing of 12472625.0 shares. With the completion of the buy transaction, Electron Capital Partners LLC’s stake is now worth $85,010,633. Whale Rock Capital Management LLC reduced a -23.26% interest valued at $66.17 million while Gilder, Gagnon, Howe & Co. LLC sold a -123,578 stake. A total of 241,990 shares of Enovix Corporation were sold by Summit Partners Public Asset Mana during the quarter, and 136,151 were bought by The Vanguard Group, Inc. In its current portfolio, Bessemer Investment Management LL holds 2,595,000 shares valued at $31.22 million.

In terms of Enovix Corporation share price expectations, FactSet research, analysts set an average price target of $26.00 in the next 12 months, up nearly 107.77% from the previous closing price of $11.07. Analysts anticipate Enovix Corporation stock to reach $38.00 by 2022, with the lowest price target being $20.00. In spite of this, 4 analysts ranked Enovix Corporation stock as a Buy at the end of 2022.

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