11,422 Shares in Enviva Inc. (NYSE:EVA) Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. purchased a new position in shares of Enviva Inc. (NYSE:EVA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,422 shares of the energy company’s stock, valued at approximately $330,000.

Several other large investors have also made changes to their positions in EVA. Bank of New York Mellon Corp acquired a new stake in shares of Enviva during the 1st quarter worth approximately $2,229,000. HighTower Advisors LLC bought a new stake in shares of Enviva during the 1st quarter worth $518,000. Citigroup Inc. bought a new stake in shares of Enviva during the 1st quarter worth $103,000. BlackRock Inc. acquired a new position in Enviva during the 1st quarter worth approximately $29,740,000. Finally, Raymond James Trust N.A. increased its position in Enviva by 15.2% during the 1st quarter. Raymond James Trust N.A. now owns 3,575 shares of the energy company’s stock worth $283,000 after purchasing an additional 473 shares in the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.

Enviva Price Performance

Shares of EVA opened at $9.09 on Tuesday. Enviva Inc. has a 52-week low of $6.69 and a 52-week high of $74.39. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.40 and a current ratio of 0.79. The firm has a market cap of $676.48 million, a PE ratio of -2.25 and a beta of 1.12. The business’s 50 day moving average price is $11.65 and its two-hundred day moving average price is $18.26.

Enviva (NYSE:EVA) last issued its earnings results on Wednesday, August 2nd. The energy company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.03). The firm had revenue of $301.91 million during the quarter, compared to the consensus estimate of $314.38 million. Enviva had a negative net margin of 23.63% and a negative return on equity of 80.32%. On average, equities analysts anticipate that Enviva Inc. will post -2.62 EPS for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price target on shares of Enviva from $12.00 to $14.00 in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Enviva presently has an average rating of “Hold” and an average target price of $28.60.

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.