Canaccord Genuity Keeps Their Buy Rating on Enovix (ENVX)
Canaccord Genuity analyst George Gianarikas maintained a Buy rating on Enovix today and set a price target of $15.00.
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According to TipRanks, Gianarikas is a 4-star analyst with an average return of 5.4% and a 39.04% success rate. Gianarikas covers the Industrials sector, focusing on stocks such as Generac Holdings, Enovix, and Fuelcell Energy.
In addition to Canaccord Genuity, Enovix also received a Buy from William Blair’s Jed Dorsheimer in a report issued today. However, on the same day, TipRanks – Google reiterated a Hold rating on Enovix (NASDAQ: ENVX).
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 175 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.
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