Enviva (NYSE:EVA) Stock Rating Lowered by Raymond James

Enviva (NYSE:EVA) was downgraded by equities research analysts at Raymond James from a “strong-buy” rating to a “market perform” rating in a research note issued on Thursday, Briefing.com reports.

Other equities analysts have also recently issued reports about the stock. Truist Financial dropped their price target on shares of Enviva from $10.00 to $5.00 and set a “sell” rating for the company in a research note on Wednesday, October 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $10.00 price target on shares of Enviva in a research note on Tuesday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Enviva in a research note on Thursday, October 5th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Enviva in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.40.

Enviva Stock Performance

EVA opened at $1.27 on Thursday. The stock has a market capitalization of $94.51 million, a price-to-earnings ratio of -0.26 and a beta of 1.26. The company has a fifty day moving average of $5.20 and a 200 day moving average of $9.02. Enviva has a fifty-two week low of $0.61 and a fifty-two week high of $61.62. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.40 and a current ratio of 0.79.

Enviva (NYSE:EVA) last issued its quarterly earnings data on Thursday, November 9th. The energy company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.17). Enviva had a negative return on equity of 105.95% and a negative net margin of 29.65%. The business had revenue of $320.64 million during the quarter, compared to analysts’ expectations of $354.38 million. As a group, sell-side analysts forecast that Enviva will post -3.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enviva

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AXQ Capital LP bought a new stake in shares of Enviva in the 3rd quarter valued at about $261,000. Covalis Capital LLP raised its holdings in shares of Enviva by 16.3% in the 3rd quarter. Covalis Capital LLP now owns 1,962,576 shares of the energy company’s stock valued at $14,660,000 after purchasing an additional 274,972 shares in the last quarter. Teza Capital Management LLC raised its holdings in shares of Enviva by 37.1% in the 3rd quarter. Teza Capital Management LLC now owns 41,278 shares of the energy company’s stock valued at $308,000 after purchasing an additional 11,170 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Enviva by 114.1% in the 3rd quarter. Trexquant Investment LP now owns 202,529 shares of the energy company’s stock valued at $1,513,000 after purchasing an additional 107,955 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of Enviva by 29.5% in the 3rd quarter. Algert Global LLC now owns 286,370 shares of the energy company’s stock valued at $2,139,000 after purchasing an additional 65,160 shares in the last quarter. Institutional investors own 87.21% of the company’s stock.

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.