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Now Is A Good Time To Buy Enviva Inc. (NYSE: EVA)

During the last session, Enviva Inc. (NYSE:EVA)’s traded shares were 1.41 million, with the beta value of the company hitting 1.05. At the end of the trading day, the stock’s price was $8.37, reflecting an intraday loss of -4.34% or -$0.38. The 52-week high for the EVA share is $80.65, that puts it down -863.56 from that peak though still a striking 20.07% gain since the share price plummeted to a 52-week low of $6.69. The company’s market capitalization is $574.35M, and the average intraday trading volume over the past 10 days was 1.41 million shares, and the average trade volume was 1.53 million shares over the past three months.

Enviva Inc. (EVA) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.40. EVA has a Sell rating from 1 analyst(s) out of 6 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.64.

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Enviva Inc. (NYSE:EVA) trade information

Enviva Inc. (EVA) registered a -4.34% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -4.34% in intraday trading to $8.37 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -1.53%, and it has moved by -61.07% in 30 days. Based on these gigs, the overall price performance for the year is -88.81%. The short interest in Enviva Inc. (NYSE:EVA) is 7.22 million shares and it means that shorts have 8.16 day(s) to cover.

The consensus price target of analysts on Wall Street is $17.80, which implies an increase of 52.98% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $10.00 and $32.00 respectively. As a result, EVA is trading at a discount of -282.32% off the target high and -19.47% off the low.

Enviva Inc. (EVA) estimates and forecasts

Statistics show that Enviva Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Enviva Inc. (EVA) shares have gone down -86.02% during the last six months, with a year-to-date growth rate less than the industry average at -111.11% against -28.10. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -146.20% this quarter and then drop -63.60% in the quarter after that. In the rating firms’ projections, revenue will increase 29.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $304.64 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $362.83 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $296.32 million and $352.16 million respectively. In this case, analysts expect current quarter sales to grow by 2.80% and then jump by 3.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -40.30%. While earnings are projected to return 45.60% in 2023, the next five years will return 34.50% per annum.

EVA Dividends

Enviva Inc. is due to release its next quarterly earnings between August 01 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Enviva Inc. is 3.62, with the dividend yield indicating at 43.25 percent, continuing the trend of increasing dividends in recent years.

Enviva Inc. (NYSE:EVA)’s Major holders

Enviva Inc. insiders own 4.24% of total outstanding shares while institutional holders control 86.29%, with the float percentage being 90.11%. Riverstone Holdings Llc is the largest shareholder of the company, while 246 institutions own stock in it. As of Mar 30, 2023, the company held over 32.42 million shares (or 47.86% of all shares), a total value of $271.33 million in shares.

The next largest institutional holding, with 5.74 million shares, is of Inclusive Capital Partners, LP’s that is approximately 8.48% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $48.06 million.

Also, the Mutual Funds coming in first place with the largest holdings of Enviva Inc. (EVA) shares are American Balanced Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Metals & Mining ETF. Data provided on Mar 30, 2023 indicates that American Balanced Fund owns about 1.66 million shares. This amounts to just over 2.46 percent of the company’s overall shares, with a $13.92 million market value. The same data shows that the other fund manager holds slightly less at 1.37 million, or about 2.02% of the stock, which is worth about $11.45 million.

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