ENVX is lower after the departure of its CFO, while ALB rises on a price-target hike
Shares of Enovix Corp (NASDAQ:ENVX) are down 5.1% at $8.52 at last check today, amid the departure of CFO Farhan Ahmad and an ongoing search for a replacement. The stock is now trading at its lowest levels since mid-September, after consistent pressure at the 100-day moving average. Now on the short sell restricted (SSR) list for today, ENVX is down 31.8% year to date.
The largest provider of lithium for electric vehicle (EV) batteries in the world, Albemarle Corporation (NYSE:ALB), is on the rise today. The stock was last seen up 1.4% at $100.80, after Jefferies lifted its price target to $130 from $120. The shares have been falling from their Dec. 9 six-month highs, though the 80-day moving average appears to be capturing the pullback. Since the start of the year, ALB is down 30.3%.
Quantumscape Corp (NYSE:QS) is up 1.4% at $4.96 at last look. The stock has been consolidating around the $5 level for a couple months, moving in and out of penny stock territory and hitting a record low of $4.65 on Nov. 18. Since the start of 2024, the equity is down 29.4%.