Enviva (NYSE:EVA) Stock Passes Below Two Hundred Day Moving Average of $0.48

Enviva Inc. (NYSE:EVA) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.48 and traded as low as $0.41. Enviva shares last traded at $0.42, with a volume of 599,178 shares traded.

Enviva Price Performance

The stock has a 50 day moving average price of $0.44 and a two-hundred day moving average price of $0.48. The company has a market capitalization of $27.76 million, a price-to-earnings ratio of -0.08 and a beta of 0.85.

Institutional Investors Weigh In On Enviva

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC bought a new stake in shares of Enviva during the fourth quarter worth approximately $29,000. Norden Group LLC bought a new stake in shares of Enviva during the 1st quarter valued at $40,000. Deltec Asset Management LLC acquired a new position in shares of Enviva in the 1st quarter valued at $88,000. CastleKnight Management LP bought a new position in shares of Enviva in the 4th quarter worth $252,000. Finally, Plustick Management LLC acquired a new stake in shares of Enviva during the fourth quarter worth $299,000. Institutional investors own 77.83% of the company’s stock.

Enviva Company Profile

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.