Raymond James analyst Pavel Molchanov reiterated a Buy rating on Enviva (EVA) today and set a price target of $57.00. The company’s shares closed last Thursday at $50.02, close to its 52-week high of $53.96.
According to TipRanks.com, Molchanov is a 5-star analyst with an average return of 15.8% and a 60.6% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Nextera Energy Partners, and Clean Energy Fuels.
Enviva has an analyst consensus of Strong Buy, with a price target consensus of $57.50.
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The company has a one-year high of $53.96 and a one-year low of $29.53. Currently, Enviva has an average volume of 99.32K.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EVA in relation to earlier this year.
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Enviva Partners LP engages in the production, process, and distribution of wood biomass to power generators. It offers wood pellets and wood chips which are used in coal-fired power generation and power plants. The company was founded on November 12, 2013 and is headquartered in Bethesda, MD.
