Enviva (NYSE:EVA) stock price is moving below its 200-day moving average of $0.48

Shares of Enviva Inc. (NYSE:EVA – Get Your Free Report ) moved 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 high 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 cap of $31.36 million, a price-to-earnings ratio of -0.09 and a beta of 0.85.

Institutional investors are investing in 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 approximately $471,000. Plustick Management LLC purchased a new position in Enviva in the 4th quarter worth $299,000. CastleKnight Management LP purchased a new stake in shares of Enviva in the 4th quarter valued at $252,000. Deltec Asset Management LLC purchased a new stake in shares of Enviva in the first quarter valued at approximately $88,000. Finally, Norden Group LLC acquired a new position in shares of Enviva in the first quarter worth approximately $40,000. 77.83% of the shares are held by hedge funds and other institutional investors.

About Enviva

(Get a free report)

Enviva Inc manufactures, processes and sells utility wood pellets. The company’s products are used as a substitute for coal in electricity generation and combined heat and power plants. It serves power generators in the United Kingdom, the 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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