Enviri (NYSE:NVRI) Stock Price Up 6.7% – Time to Buy?

Enviri Co. (NYSE:NVRI) shares shot up 6.7% during mid-day trading on Tuesday . The stock traded as high as $9.15 and last traded at $9.20. 181,059 shares were traded 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 Ratings Changes

Separately, BMO Capital Markets reduced their target price on Enviri from $13.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, November 1st.

Enviri Trading Down 0.6 %

The company has a market capitalization of $740.25 million, a price-to-earnings ratio of -7.51 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. The firm has a fifty day moving average price of $7.79 and a 200-day moving average price of $9.35.

Enviri (NYSE:NVRI) last released its earnings results on Thursday, October 31st. The company reported ($0.01) earnings per share (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 company had revenue of $573.60 million for the quarter, compared to analyst estimates of $613.63 million. During the same period last year, the company posted $0.05 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Enviri Co. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Enviri

Several institutional investors and hedge funds have recently made changes to their positions in NVRI. Dimensional Fund Advisors LP lifted its holdings in shares of Enviri by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,107,266 shares of the company’s stock valued at $35,446,000 after purchasing an additional 249,181 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Enviri by 11.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 3,823,704 shares of the company’s stock worth $32,999,000 after acquiring an additional 383,395 shares during the period. State Street Corp raised its stake in shares of Enviri by 0.5% in the third quarter. State Street Corp now owns 2,988,970 shares of the company’s stock valued at $30,906,000 after buying an additional 13,902 shares during the period. Geode Capital Management LLC raised its stake in shares of Enviri by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,839,051 shares of the company’s stock valued at $19,020,000 after buying an additional 28,166 shares during the period. Finally, Brightline Capital Management LLC bought a new stake in shares of Enviri in the third quarter valued at $10,340,000. Institutional investors and hedge funds own 93.43% of the company’s stock.

Enviri Company Profile

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.