Enviva (NYSE:EVA) Stock Passes Below 50-Day Moving Average of $0.46

Enviva Inc. (NYSE:EVA) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.46 and traded as low as $0.40. Enviva shares last traded at $0.40, with a volume of 249,593 shares traded.

Enviva Trading Up 14.4 %

The business has a 50 day simple moving average of $0.46 and a 200-day simple moving average of $0.47. The stock has a market capitalization of $35.48 million, a price-to-earnings ratio of -0.08 and a beta of 0.81.

Hedge Funds Weigh In On Enviva

A number of hedge funds have recently made changes to their positions in EVA. Neuberger Berman Group LLC acquired a new position in Enviva during the fourth quarter valued at approximately $29,000. Aurora Private Wealth Inc. boosted its position in Enviva by 329.2% during the 4th quarter. Aurora Private Wealth Inc. now owns 45,500 shares of the energy company’s stock worth $45,000 after purchasing an additional 34,900 shares during the period. SG Americas Securities LLC acquired a new stake in Enviva in the 4th quarter valued at $44,000. Norden Group LLC purchased a new position in Enviva in the first quarter valued at about $40,000. Finally, Deltec Asset Management LLC acquired a new position in shares of Enviva during the first quarter worth about $88,000. Institutional investors and hedge funds own 77.83% of the company’s stock.

About Enviva

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.