J.P. Morgan Sticks to Their Hold Rating for Enovix (ENVX)

J.P. Morgan analyst Bill Peterson maintained a Hold rating on Enovix today and set a price target of $10.00.

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According to TipRanks, Peterson is a 4-star analyst with an average return of 4.1% and a 51.56% success rate. Peterson covers the Basic Materials sector, focusing on stocks such as Alcoa, Commercial Metals Company, and Freeport-McMoRan.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enovix with a $19.00 average price target.

Based on Enovix’s latest earnings release for the quarter ending September 28, the company reported a quarterly revenue of $7.99 million and a GAAP net loss of $53.71 million. In comparison, last year the company earned a revenue of $4.32 million and had a GAAP net loss of $22.54 million

Based on the recent corporate insider activity of 180 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ENVX in relation to earlier this year. Last month, Kristina Truong, the CAO of ENVX sold 2,296.00 shares for a total of $16,783.76.