Barclays PLC Sells 43,945 Shares of Enviva Inc. (NYSE:EVA)

Barclays PLC reduced its position in shares of Enviva Inc. (NYSE:EVA) by 32.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 91,562 shares of the energy company’s stock after selling 43,945 shares during the quarter. Barclays PLC owned about 0.14% of Enviva worth $994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EVA. Bank of New York Mellon Corp purchased a new position in shares of Enviva in the 1st quarter worth $2,229,000. HighTower Advisors LLC bought a new stake in Enviva during the first quarter worth approximately $518,000. Citigroup Inc. purchased a new stake in Enviva during the first quarter valued at approximately $103,000. BlackRock Inc. bought a new stake in shares of Enviva in the 1st quarter valued at approximately $29,740,000. Finally, Raymond James Trust N.A. boosted its holdings in shares of Enviva by 15.2% in 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 during the period. 87.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EVA. JPMorgan Chase & Co. restated an “underweight” rating on shares of Enviva in a research report on Friday, November 10th. Truist Financial cut their price target on shares of Enviva from $10.00 to $5.00 and set a “sell” rating on the stock in a report on Wednesday, October 4th. The Goldman Sachs Group began coverage on Enviva in a research note on Thursday, October 5th. They set a “neutral” rating for the company. Raymond James cut shares of Enviva from a “strong-buy” rating to a “market perform” rating in a report on Thursday, November 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $10.00 target price on shares of Enviva in a report on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.40.

Insider Transactions at Enviva

In other news, major shareholder Inclusive Capital Partners, L. sold 2,250,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $1.49, for a total transaction of $3,352,500.00. Following the sale, the insider now owns 5,348,710 shares of the company’s stock, valued at $7,969,577.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 54.10% of the company’s stock.

Enviva Price Performance

Enviva stock opened at $1.62 on Tuesday. Enviva Inc. has a 52-week low of $0.61 and a 52-week high of $61.62. The firm has a market capitalization of $120.69 million, a price-to-earnings ratio of -0.33 and a beta of 1.26. The company has a fifty day simple moving average of $4.80 and a 200-day simple moving average of $8.61. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 6.89.

Enviva (NYSE:EVA) last released its earnings results on Thursday, November 9th. The energy company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.17). The business had revenue of $320.64 million for the quarter, compared to analysts’ expectations of $354.38 million. Enviva had a negative return on equity of 104.81% and a negative net margin of 29.65%. On average, equities analysts anticipate that Enviva Inc. will post -4.02 EPS for the current fiscal year.

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.