Enovix Corporation’s recent filing unveils that its Chief Legal Officer Chakravarthy Arthi unloaded Company’s shares for reported $0.46 million on Oct 14 ’24. In the deal valued at $13.00 per share,35,000 shares were sold. As a result of this transaction, Chakravarthy Arthi now holds 343,305 shares worth roughly $3.14 million.
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Then, Chakravarthy Arthi bought 35,000 shares, generating $447,650 in total proceeds.
Before that, Reichow Gregory sold 7,500 shares. Enovix Corporation shares valued at $91,050 were divested by the Director at a price of $12.14 per share. As a result of the transaction, Reichow Gregory now holds 8,129 shares, worth roughly $74299.06.
Janney downgraded its Enovix Corporation [ENVX] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including The Benchmark Company’s analysts, who began to cover the stock in late July with a ‘”a Buy”‘ rating. William Blair began covering ENVX with “an Outperform” recommendation on December 18, 2023. TD Cowen revised its rating on July 21, 2023. It rated ENVX as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of ENVX
On Tuesday, Enovix Corporation [NASDAQ:ENVX] saw its stock jump 9.59% to $9.14. Over the last five days, the stock has lost -14.02%. Enovix Corporation shares have fallen nearly -27.00% since the year began. Nevertheless, the stocks have fallen -13.69% over the past one year. While a 52-week high of $18.68 was reached on 07/16/24, a 52-week low of $5.70 was recorded on 04/25/24. SMA at 50 days reached $9.98, while 200 days put it at $10.47.
Levels Of Support And Resistance For ENVX Stock
The 24-hour chart illustrates a support level at 8.50, which if violated will result in even more drops to 7.85. On the upside, there is a resistance level at 9.52. A further resistance level may holdings at 9.89. The Relative Strength Index (RSI) on the 14-day chart is 41.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.55, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.69%. Stochastics %K at 18.82% indicates the stock is a buying.
How much short interest is there in Enovix Corporation?
A steep rise in short interest was recorded in Enovix Corporation stocks on 2024-10-15, dropping by -0.96 million shares to a total of 51.82 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 52.78 million shares. There was a decline of -1.86%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on January 11, 2023 when Canaccord Genuity began covering the stock and recommended ‘”a Buy”‘ rating along with a $20 price target.
