Enviva Inc. (NYSE:EVA) CFO Shai Even Buys 4,300 Shares

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

Shares of Enviva stock traded down $1.74 during trading hours on Thursday, hitting $58.50. The company’s stock had a trading volume of 411,247 shares, compared to its average volume of 392,060. Enviva Inc. has a twelve month low of $51.20 and a twelve month high of $91.06. The firm has a fifty day moving average of $75.30 and a 200-day moving average of $74.25. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 106.00 and a beta of 0.97. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.48 and a current ratio of 0.79.

Enviva (NYSE:EVA – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The energy company reported ($0.11) EPS for the quarter, beating the consensus estimate 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. On average, sell-side analysts expect that Enviva Inc. will post 0.79 earnings per share for the current fiscal year.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. lifted its stake in Enviva by 2.6% during the 1st quarter. D.A. Davidson & CO. now owns 5,828 shares of the energy company’s stock worth $461,000 after acquiring an additional 150 shares in the last quarter. HighTower Advisors LLC lifted its stake in Enviva by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 5,753 shares of the energy company’s stock worth $311,000 after acquiring an additional 182 shares in the last quarter. Veritable L.P. lifted its stake in Enviva by 5.0% during the 1st quarter. Veritable L.P. now owns 5,579 shares of the energy company’s stock worth $442,000 after acquiring an additional 264 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Enviva during the 1st quarter worth about $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Enviva by 14.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,739 shares of the energy company’s stock worth $148,000 after purchasing an additional 339 shares during the period.

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

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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