Enviva Inc. (NYSE:EVA) CFO Buys $253,055.00 in Stock

Enviva Inc. (NYSE:EVAGet Rating) CFO Shai Even acquired 4,300 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The stock was purchased at an average cost of $58.85 per share, with a total value of $253,055.00. Following the completion of the purchase, the chief financial officer now directly owns 359,130 shares in the company, valued at $21,134,800.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of EVA traded down $1.74 during midday trading on Thursday, reaching $58.50. 411,247 shares of the company were exchanged, compared to its average volume of 392,060. The stock has a 50-day moving average price of $75.30 and a 200-day moving average price of $74.25. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 106.00 and a beta of 0.97. Enviva Inc. has a 1-year low of $51.20 and a 1-year high of $91.06. The company has a current ratio of 0.79, a quick ratio of 0.48 and a debt-to-equity ratio of 2.11.

Enviva (NYSE:EVAGet Rating) last announced its earnings results on Thursday, May 5th. The energy company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.08. Enviva had a negative return on equity of 24.48% and a negative net margin of 14.67%. The business had revenue of $232.98 million for the quarter, compared to analyst estimates of $257.49 million. Equities research analysts anticipate that Enviva Inc. will post 0.79 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Monday, May 16th were issued a $0.905 dividend. This is a positive change from Enviva’s previous quarterly dividend of $0.86. This represents a $3.62 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend was Friday, May 13th.

Several research firms have weighed in on EVA. Raymond James downgraded Enviva from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 5th. JPMorgan Chase & Co. lifted their price objective on Enviva from $76.00 to $77.00 and gave the company a “neutral” rating in a research report on Tuesday, April 19th. Royal Bank of Canada lifted their price objective on Enviva from $78.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, March 7th. StockNews.com started coverage on Enviva in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Truist Financial started coverage on Enviva in a report on Tuesday, March 29th. They issued a “buy” rating and a $100.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.57.

A number of institutional investors have recently made changes to their positions in the stock. Riverstone Holdings LLC grew its holdings in shares of Enviva by 104.6% during the fourth quarter. Riverstone Holdings LLC now owns 27,797,923 shares of the energy company’s stock valued at $1,957,530,000 after purchasing an additional 14,211,548 shares during the last quarter. Vanguard Group Inc. bought a new position in shares of Enviva during the first quarter valued at approximately $194,589,000. GW&K Investment Management LLC bought a new position in shares of Enviva during the first quarter valued at approximately $43,814,000. Blackstone Inc. bought a new position in shares of Enviva during the first quarter valued at approximately $37,222,000. Finally, BlackRock Inc. acquired a new position in shares of Enviva during the first quarter worth approximately $29,740,000.

Enviva Company Profile (Get Rating)

Enviva Inc produces 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, Europe, and Japan. The company was formerly known as Enviva Partners, LP. Enviva Inc was incorporated in 2013 and is headquartered in Bethesda, Maryland.

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