Strength Seen in Enovix Corporation (ENVX): Can Its 20.8% Jump Turn into More Strength?

Enovix Corporation ENVX shares soared 20.8% in the last trading session to close at $10.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.1% gain over the past four weeks.ENVX is benefiting from its unique 100% active silicon anode architecture, enabling superior energy density, fast charging, and competitive performance across multiple markets like smartphones, smart glasses, and defense applications. This company is expected to post quarterly loss of $0.17 per share in its upcoming report, which represents a year-over-year change of -21.4%. Revenues are expected to be $5.62 million, up 49.1% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Enovix Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ENVX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Enovix Corporation belongs to the Zacks Electronics - Miscellaneous Products industry. Another stock from the same industry, Brother Industries Ltd. BRTHY, closed the last trading session 2% higher at $34.7. Over the past month, BRTHY has returned 1.2%.For Brother Industries, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.85. This represents a change of +2.4% from what the company reported a year ago. Brother Industries currently has a Zacks Rank of #4 (Sell).Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enovix Corporation (ENVX): Free Stock Analysis Report Brother Industries Ltd. (BRTHY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks