Thu Sep 19 08:06:32 UTC 2024: ## Enviva Stock Dips Below 200-Day Moving Average

**New York, NY (MarketBeat News) -** Shares of Enviva Inc. (NYSE: EVA) closed at $0.42 on Wednesday, falling below its 200-day moving average of $0.48. This decline comes amidst increased activity from institutional investors, with several firms acquiring new stakes in Enviva during recent quarters.

The stock traded as low as $0.41 on Wednesday, with a volume of 599,178 shares exchanged. Enviva’s market capitalization currently sits at $31.36 million, with a price-to-earnings ratio of -0.09 and a beta of 0.85.

Notable investors include Mubadala Investment Co PJSC, which acquired a $471,000 stake in the fourth quarter, and Plustick Management LLC, which purchased a $299,000 position during the same period. Other investors like CastleKnight Management LP, Deltec Asset Management LLC, and Norden Group LLC also acquired new stakes in Enviva throughout the past year.

Enviva Inc. specializes in producing, processing, and selling utility-grade wood pellets, used as a coal substitute in power generation and combined heat and power plants. The company primarily serves power generators in the United Kingdom, European Union, and Japan. Previously known as Enviva Partners, LP, the company rebranded to Enviva Inc. in December 2021.

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