Enviri (NYSE:NVRI) Trading 6.7% Higher – Time to Buy?

Enviri Co. (NYSE:NVRI)’s share price shot up 6.7% during trading on Tuesday . The company traded as high as $9.15 and last traded at $9.20. 181,059 shares changed hands during trading, a decline of 83% from the average session volume of 1,073,827 shares. The stock had previously closed at $8.62.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets dropped their price objective on Enviri from $13.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, November 1st.

Enviri Stock Performance

The stock’s fifty day simple moving average is $7.70 and its two-hundred day simple moving average is $9.35. The company has a market cap of $739.29 million, a price-to-earnings ratio of -7.50 and a beta of 2.15. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.99 and a current ratio of 1.30.

Enviri (NYSE:NVRI) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Enviri had a negative return on equity of 1.25% and a negative net margin of 4.28%. The firm had revenue of $573.60 million for the quarter, compared to analyst estimates of $613.63 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Enviri Co. will post -0.11 EPS for the current year.

Institutional Trading of Enviri

A number of institutional investors have recently added to or reduced their stakes in NVRI. Essex Investment Management Co. LLC boosted its stake in shares of Enviri by 0.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 388,870 shares of the company’s stock valued at $4,021,000 after buying an additional 1,056 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Enviri by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,034 shares of the company’s stock worth $268,000 after purchasing an additional 1,273 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Enviri by 10.1% in the second quarter. Hsbc Holdings PLC now owns 15,174 shares of the company’s stock worth $130,000 after purchasing an additional 1,397 shares in the last quarter. CWM LLC boosted its holdings in Enviri by 37.1% in the third quarter. CWM LLC now owns 5,662 shares of the company’s stock worth $59,000 after purchasing an additional 1,532 shares in the last quarter. Finally, FMR LLC boosted its holdings in Enviri by 34.4% during the third quarter. FMR LLC now owns 7,069 shares of the company’s stock valued at $73,000 after acquiring an additional 1,809 shares during the period. 93.43% of the stock is owned by hedge funds and other institutional investors.

About Enviri

Enviri Corporation provides environmental solutions for industrial and specialty waste streams in the United States and internationally. The company operates through two segments: Harsco Environmental and Clean Earth. The Harsco Environmental segment offers on-site services under long-term contracts for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and meltshop and furnace services, such as under-vessel cleaning, removal of ladle slag, and general melt shop debris.