Enviva Partners LP (NYSE:EVA) Sees Large Increase in Short Interest

Enviva Partners LP (NYSE:EVA) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 70,300 shares, a growth of 62.0% from the September 15th total of 43,400 shares. Based on an average daily volume of 104,300 shares, the short-interest ratio is currently 0.7 days. Currently, 0.3% of the shares of the stock are short sold.

Shares of EVA opened at $42.60 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.88 and a debt-to-equity ratio of 1.53. The stock has a market cap of $1.69 billion, a PE ratio of 304.29 and a beta of 1.17. Enviva Partners has a 12-month low of $20.63 and a 12-month high of $43.99. The business has a 50-day simple moving average of $39.81 and a two-hundred day simple moving average of $36.22.

Enviva Partners (NYSE:EVA) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.08). The firm had revenue of $167.71 million during the quarter, compared to analyst estimates of $194.50 million. Enviva Partners had a net margin of 3.43% and a return on equity of 19.23%. On average, equities research analysts expect that Enviva Partners will post 1.33 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in EVA. Spirit of America Management Corp NY acquired a new position in shares of Enviva Partners during the third quarter worth $89,000. Tower Research Capital LLC TRC bought a new position in Enviva Partners during the 1st quarter worth $119,000. Advisor Group Holdings Inc. acquired a new position in Enviva Partners during the 1st quarter worth about $206,000. Virtu Financial LLC acquired a new position in Enviva Partners during the 2nd quarter worth about $226,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Enviva Partners in the second quarter valued at about $245,000.

EVA has been the topic of several recent analyst reports. Zacks Investment Research lowered Enviva Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, October 13th. Raymond James lifted their target price on Enviva Partners from $42.00 to $44.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 8th. Finally, TheStreet raised shares of Enviva Partners from a “c” rating to a “b-” rating in a report on Tuesday, August 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $39.33.

About Enviva Partners

Enviva Partners, LP produces and supplies utility-grade wood pellets. It serves utilities and large-scale power generators in the United Kingdom and other European markets. Enviva Partners GP, LLC operates as the general partner of the company. Enviva Partners, LP was founded in 2013 and is based in Bethesda, Maryland.

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