Enviva Inc. (NYSE:EVA) Short Interest Update

Enviva Inc. (NYSE:EVAGet Free Report) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 8,110,000 shares, a decline of 7.8% from the February 29th total of 8,800,000 shares. Approximately 21.2% of the company’s stock are short sold. Based on an average daily trading volume, of 4,100,000 shares, the short-interest ratio is presently 2.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVA. Bank of New York Mellon Corp purchased a new position in shares of Enviva in the 1st quarter worth approximately $2,229,000. HighTower Advisors LLC purchased a new stake in Enviva during the 1st quarter worth approximately $518,000. Citigroup Inc. purchased a new stake in Enviva during the 1st quarter worth approximately $103,000. BlackRock Inc. purchased a new stake in Enviva during the 1st quarter worth approximately $29,740,000. Finally, Raymond James Trust N.A. grew its position in Enviva by 15.2% during the 1st quarter. Raymond James Trust N.A. now owns 3,575 shares of the energy company’s stock worth $283,000 after purchasing an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 77.83% of the company’s stock.

Enviva Stock Down 1.3 %

Shares of Enviva stock traded down $0.01 on Tuesday, reaching $0.43. The stock had a trading volume of 1,254,536 shares, compared to its average volume of 4,185,735. The company has a 50 day moving average price of $0.46 and a 200 day moving average price of $1.98. The company has a quick ratio of 1.06, a current ratio of 1.42 and a debt-to-equity ratio of 6.89. Enviva has a 1 year low of $0.25 and a 1 year high of $29.46. The stock has a market capitalization of $31.68 million, a P/E ratio of -0.09 and a beta of 0.89.

Enviva Company Profile

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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.

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