Enviva Inc (NYSE: EVA) In 2024: Will It Be Worth Investing In?

In the last trading session, 1.25 million shares of the Enviva Inc (NYSE:EVA) were traded, and its beta was 0.89. Most recently the company’s share price was $0.41, and it changed around -$0.02 or -3.94% from the last close, which brings the market valuation of the company to $30.85M. EVA currently trades at a discount to its 52-week high of $29.46, offering almost -7085.37% off that amount. The share price’s 52-week low was $0.25, which indicates that the current value has risen by an impressive 39.02% since then. We note from Enviva Inc’s average daily trading volume that its 10-day average is 1.81 million shares, with the 3-month average coming to 4.23 million.

Enviva Inc stock received a consensus recommendation rating of Buy, based on a mean score of 4.00. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended EVA as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Enviva Inc is expected to report earnings per share of -$0.62 for the current quarter.

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Enviva Inc (NYSE:EVA) trade information

Instantly EVA has showed a red trend with a performance of -3.94% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -58.42% year-to-date, but still down -1.40% over the last five days. On the other hand, Enviva Inc (NYSE:EVA) is 1.02% up in the 30-day period. We can see from the shorts that 8.11 million shares have been sold at a short interest cover period of 1.22 day(s).

The consensus price target as assigned by Wall Street analysts is $57.2, which translates to bulls needing to increase their stock price by 99.28% from its current value. Analyst projections state that EVA is forecast to be at a low of $10 and a high of $80.

Enviva Inc (EVA) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 17.30% in revenue this quarter, and will report an increase of 66.30% in the next quarter. The year-over-year growth rate is expected to be 10.40%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $316.64 million in revenue for the current quarter. 2 analysts expect Enviva Inc to make $308 million in revenue for the quarter ending Mar 2024. The company’s sales for the same quarters a year ago were $239.31 million and $269.08 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 32.30%. Forecasts for the next quarter put sales growth at 14.50%.

Enviva Inc earnings are expected to increase by 64.16% in 2024, but the outlook is positive 34.50% per year for the next five years.

EVA Dividends

Enviva Inc’s next quarterly earnings report is expected to be released around May 01 and May 06.

Enviva Inc (NYSE:EVA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 4.55% of Enviva Inc shares, and 78.41% of them are in the hands of institutional investors. The stock currently has a share float of 82.15%. Enviva Inc stock is held by 168 institutions, with Riverstone Holdings Llc being the largest institutional investor. By Jun 29, 2023, it held 43.56% of the shares, which is about 32.42 million shares worth $351.72 million.

Inclusive Capital Partners, LP, with 10.21% or 7.6 million shares worth $82.45 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

American Century Small Cap Value Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 1.26 million shares worth $13.67 million, making up 1.69% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 0.95 million shares worth around $10.3 million, which represents about 1.28% of the total shares outstanding.