Enviva (NYSE:EVA) Stock Passes Below Two Hundred Day Moving Average of $0.49

Enviva Inc. (NYSE:EVA) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.49 and traded as low as $0.39. Enviva shares last traded at $0.39, with a volume of 186,209 shares changing hands.

Enviva Price Performance

The stock has a market cap of $29.33 million, a price-to-earnings ratio of -0.08 and a beta of 0.81. The company’s fifty day moving average price is $0.49 and its 200-day moving average price is $0.49.

Hedge Funds Weigh In On Enviva

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Neuberger Berman Group LLC acquired a new position in Enviva in the 4th quarter worth approximately $29,000. Aurora Private Wealth Inc. increased its holdings in Enviva by 329.2% in the 4th quarter. Aurora Private Wealth Inc. now owns 45,500 shares of the energy company’s stock worth $45,000 after buying an additional 34,900 shares during the period. SG Americas Securities LLC acquired a new position in Enviva in the 4th quarter worth approximately $44,000. Norden Group LLC acquired a new position in Enviva in the 1st quarter worth approximately $40,000. Finally, Deltec Asset Management LLC acquired a new position in Enviva in the 1st quarter worth approximately $88,000. Institutional investors and hedge funds own 77.83% of the company’s stock.

About Enviva

Enviva Inc produces, processes, and sells utility-grade wood pellets. The company's products are used as a substitute for coal in power generation, and combined heat and power plants. It serves power generators in the United Kingdom, European Union, and Japan. DS: The company was formerly known as Enviva Partners, LP and changed its name to Enviva Inc in December 2021.