Enviva (NYSE:EVA) Share Price Crosses Below 200-Day Moving Average of $0.48

Shares of Enviva Inc. (NYSE:EVA) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.48 and traded as low as $0.41. Enviva shares last traded at $0.42, with a volume of 599,178 shares traded.

Enviva Stock Up 5.0 %

The stock has a fifty day moving average of $0.44 and a 200-day moving average of $0.48. The stock has a market capitalization of $31.36 million, a price-to-earnings ratio of -0.09 and a beta of 0.85.

Institutional Investors Weigh In On Enviva

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mubadala Investment Co PJSC acquired a new stake in shares of Enviva in the 4th quarter valued at about $471,000. Plustick Management LLC purchased a new position in Enviva during the 4th quarter worth $299,000. CastleKnight Management LP acquired a new stake in shares of Enviva in the 4th quarter worth $252,000. Deltec Asset Management LLC purchased a new stake in shares of Enviva in the first quarter valued at about $88,000. Finally, Norden Group LLC acquired a new position in shares of Enviva during the first quarter worth about $40,000. 77.83% of the stock is owned by hedge funds and other institutional investors.

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.