State Board of Administration of Florida Retirement System Buys 2,020 Shares of Enviva Inc. (NYSE:EVA)

State Board of Administration of Florida Retirement System raised its stake in Enviva Inc. (NYSE:EVA – Get Rating) by 49.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,070 shares of the energy company’s stock after acquiring an additional 2,020 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Enviva were worth $322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Treasurer of the State of North Carolina grew its holdings in shares of Enviva by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 13,116 shares of the energy company’s stock worth $788,000 after purchasing an additional 170 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Enviva by 3.6% during the third quarter. Janney Montgomery Scott LLC now owns 5,680 shares of the energy company’s stock worth $341,000 after buying an additional 200 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Enviva by 6.0% during the third quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the energy company’s stock worth $237,000 after buying an additional 224 shares in the last quarter. CWM LLC raised its stake in shares of Enviva by 36.3% in the fourth quarter. CWM LLC now owns 1,175 shares of the energy company’s stock valued at $62,000 after acquiring an additional 313 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Enviva in the 1st quarter worth approximately $26,000. 83.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Enviva

In related news, Director Gerrit Livingston Jr. Lansing acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 24th. The stock was acquired at an average cost of $27.38 per share, with a total value of $54,760.00. Following the completion of the purchase, the director now directly owns 8,477 shares in the company, valued at $232,100.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John C. Bumgarner, Jr. bought 100,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were bought at an average cost of $10.22 per share, for a total transaction of $1,022,000.00. Following the completion of the acquisition, the director now owns 295,763 shares in the company, valued at approximately $3,022,697.86. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerrit Livingston Jr. Lansing purchased 2,000 shares of the firm’s stock in a transaction dated Friday, March 24th. The stock was purchased at an average cost of $27.38 per share, with a total value of $54,760.00. Following the acquisition, the director now directly owns 8,477 shares in the company, valued at $232,100.26. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 107,000 shares of company stock worth $1,115,010. Insiders own 13.30% of the company’s stock.

Enviva Stock Performance

Shares of NYSE:EVA opened at $8.39 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.40 and a debt-to-equity ratio of 10.81. Enviva Inc. has a 1-year low of $6.69 and a 1-year high of $80.65. The stock has a market capitalization of $568.25 million, a P/E ratio of -2.30 and a beta of 0.99. The business has a 50-day moving average price of $21.51 and a two-hundred day moving average price of $40.32.

Enviva (NYSE:EVA – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The energy company reported ($1.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.15). Enviva had a negative return on equity of 61.64% and a negative net margin of 21.22%. The business had revenue of $269.08 million for the quarter, compared to the consensus estimate of $312.38 million. Equities analysts predict that Enviva Inc. will post -2.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Enviva from $63.00 to $32.00 in a report on Thursday, April 6th. Citigroup lowered their target price on Enviva from $62.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, April 4th. Raymond James reduced their price target on shares of Enviva from $65.00 to $55.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 5th. TheStreet cut shares of Enviva from a “c-” rating to a “d+” rating in a research report on Friday, March 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Enviva from $61.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, March 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.60.

Enviva Profile

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Enviva, Inc engages in the production, process, and distribution of wood biomass to power generators. It offers wood pellets and wood chips which are used in coal-fired power generation and power plants. The company was founded on November 12, 2013 and is headquartered in Bethesda, MD.