Swiss National Bank Boosts Position in Enviva Inc. (NYSE:EVA)

Swiss National Bank boosted its holdings in Enviva Inc. (NYSE:EVA – Get Rating) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 80,500 shares of the energy company’s stock after buying an additional 1,600 shares during the period. Swiss National Bank’s holdings in Enviva were worth $4,264,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new stake in Enviva in the first quarter valued at approximately $26,000. American International Group Inc. acquired a new stake in Enviva in the second quarter valued at approximately $27,000. Fiduciary Alliance LLC acquired a new stake in Enviva in the fourth quarter valued at approximately $40,000. Atticus Wealth Management LLC acquired a new stake in Enviva in the fourth quarter valued at approximately $48,000. Finally, CWM LLC grew its position in 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 in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

EVA has been the subject of several recent research reports. Truist Financial downgraded shares of Enviva from a “buy” rating to a “sell” rating and lowered their price objective for the company from $40.00 to $10.00 in a research report on Thursday, May 4th. JPMorgan Chase & Co. decreased their price target on shares of Enviva from $61.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, March 3rd. StockNews.com raised shares of Enviva to a “sell” rating in a research report on Thursday, January 26th. Royal Bank of Canada decreased their price target on shares of Enviva from $63.00 to $32.00 in a research report on Thursday, April 6th. Finally, Citigroup decreased their price target on shares of Enviva from $62.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Enviva currently has a consensus rating of “Hold” and a consensus target price of $34.60.

Insider Activity at Enviva

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

Enviva Stock Performance

EVA stock opened at $8.39 on Friday. The company has a debt-to-equity ratio of 10.81, a quick ratio of 0.40 and a current ratio of 0.80. The stock has a market capitalization of $568.25 million, a price-to-earnings ratio of -2.30 and a beta of 0.99. Enviva Inc. has a 1 year low of $6.69 and a 1 year high of $80.65. The stock’s fifty day moving average is $21.51 and its two-hundred day moving average is $40.32.

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

About Enviva

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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.