Enovix stock price has shown notable volatility this week

Enovix stock price has shown notable volatility this week, trading around $11.42, up 3.1% in Wednesday’s session. Investors are closely watching delivery timelines for its advanced lithium-ion batteries, as positive updates could push the price towards the $12.50 resistance level in the short term. Enovix Corporation (ENVX) ended the recent trading session at $11.70, demonstrating a -0.26% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.58%. At the same time, the Dow added 0.91%, and the tech-heavy Nasdaq gained 0.3%. Several equities research analysts have weighed in on ENVX shares. B. Riley reaffirmed a "buy" rating and issued a $17.00 target price (up from $12.00) on shares of Enovix in a research report on Thursday, July 10th. Cowen reissued a "hold" rating on shares of Enovix in a report on Tuesday, July 8th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $12.00 price target (up from $9.00) on shares of Enovix in a report on Thursday, July 24th. Craig Hallum reissued a "buy" rating and set a $15.00 price target (up from $12.00) on shares of Enovix in a report on Tuesday, July 8th. Finally, Wall Street Zen lowered Enovix from a "hold" rating to a "sell" rating in a report on Saturday, September 6th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.00. The latest move in Enovix stock price to $11.41 underscores investor interest ahead of its product rollout for AR/VR devices. Analysts believe this sector focus could significantly expand TAM (total addressable market), impacting forward P/E ratios favorably.