Enovix Corporation’s Struggles Continue with Negative EPS and Poor Financial Performance”
Enovix Corporation, a company in the industrials sector known for producing electrical equipment and parts, has been experiencing ongoing difficulties. According to recent data, the company has a negative earnings per share (EPS) for the trailing twelve months (-0.86) and a negative EPS forecast for the next year (-0.72). This trend of unprofitability is reflected in the company’s poor financial performance, with negative returns on assets (ROA) and returns on equity (ROE).
In addition to these challenges, Enovix’s stock price has declined significantly over the past year. Its beta, a measure of a stock’s volatility in relation to the overall market, is also negative. This suggests that the stock may be more risky to hold due to its heightened volatility compared to the market.
Investors may want to carefully consider these issues before making any investment decisions involving Enovix Corporation. It remains to be seen how the company will address its current struggles and work towards improving its financial performance in the future.
It appears that on December 2, 2022, B. Riley Securities initiated coverage on Enovix Corporation with a “Buy” rating and a price target of $19. This means that B. Riley Securities believes that Enovix’s stock is a good investment at this time and that it has the potential to reach a price of $19 in the future. However, it is important to keep in mind that this is just one analyst’s opinion and that it is always important to do your own research and analysis before making any investment decisions.
Roy Frigo an avid economist and an expert on global politics and economic pressures that can affect market conditions. He has a Masters Degree in Economics from Westminster University with previous roles including Investment Banking.
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