Enviva Inc. (NYSE:EVA) Short Interest Update

Enviva Inc. (NYSE:EVA) saw a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 4,290,000 shares, a drop of 7.7% from the May 15th total of 4,650,000 shares. Based on an average daily trading volume, of 1,700,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 12.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in Enviva by 21.3% during the third quarter. Janney Montgomery Scott LLC now owns 60,039 shares of the energy company’s stock worth $448,000 after purchasing an additional 10,544 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Enviva in the third quarter worth $298,000. Dark Forest Capital Management LP increased its stake in shares of Enviva by 981.4% in the third quarter. Dark Forest Capital Management LP now owns 186,798 shares of the energy company’s stock worth $1,395,000 after buying an additional 169,524 shares during the period. Algert Global LLC boosted its holdings in shares of Enviva by 29.5% during the 3rd quarter. Algert Global LLC now owns 286,370 shares of the energy company’s stock valued at $2,139,000 after buying an additional 65,160 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of Enviva by 114.1% during the 3rd quarter. Trexquant Investment LP now owns 202,529 shares of the energy company’s stock valued at $1,513,000 after buying an additional 107,955 shares in the last quarter. Institutional investors and hedge funds own 77.83% of the company’s stock.

Enviva Price Performance

EVA stock traded down $0.02 during mid-day trading on Wednesday, hitting $0.48. The stock had a trading volume of 402,411 shares, compared to its average volume of 394,089. The firm has a market capitalization of $35.54 million, a P/E ratio of -0.10 and a beta of 0.85. Enviva has a 52 week low of $0.25 and a 52 week high of $14.17. The company has a current ratio of 1.42, a quick ratio of 1.06 and a debt-to-equity ratio of 6.89. The firm has a fifty day simple moving average of $0.52 and a 200 day simple moving average of $0.60.

Enviva Company Profile

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.