EVA Stock Summary and Trading Ideas (Enviva | NYSE:EVA)

Enviva Inc develop, construct, acquire, and own and operate, fully contracted wood pellet production plants where the company aggregate a natural resource, wood fiber, and process it into dry, densified, uniform pellets that can be effectively stored and transported around the world. The company sells term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan, who use pellets to displace coal and other fossil fuels to generate power and heat as part of their efforts to accelerate the energy transition away from conventional energy sources. The company derive a majority of revenues from customers in Europe.

Enviva trades on the NYSE stock market under the symbol EVA.

As of April 25, 2024, EVA stock price climbed to $0.58 with 4,030,906 million shares trading.

EVA has a beta of 3.34, meaning it tends to be more sensitive to market movements. EVA has a correlation of 0.03 to the broad based SPY ETF.

EVA has a market cap of $43.21 million. This is considered a Sub-Micro Cap stock.

Last quarter Enviva reported $321 million in Revenue and -$1.14 earnings per share. This fell short of revenue expectation by $-30 million and missed earnings estimates by -$.82.

In the last 3 years, EVA stock traded as high as $91.06 and as low as $.25.

The top ETF exchange traded funds that EVA belongs to (by Net Assets): VTI.

EVA stock has underperformed the market in the last year with a return of -97.4%, while SPY returned +22.5%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in EVA shares. However, EVA has outperformed the market in the last 3 month and 2 week periods, returning +63.3% and +41.5%, while SPY returned +3.1% and -3.0%, respectively. This indicates EVA has been having a stronger performance recently.

EVA support price is $.42 and resistance is $.48 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that EVA stock will trade within this expected range on the day.