Enviri (NYSE:NVRI) Shares Down 3.8% – Should You Sell?

Enviri Co. (NYSE:NVRI)’s stock price was down 3.8% during mid-day trading on Friday . The stock traded as low as $8.34 and last traded at $8.33. Approximately 83,132 shares were traded during trading, a decline of 93% from the average daily volume of 1,110,447 shares. The stock had previously closed at $8.65.

Analyst Ratings Changes

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

Enviri Stock Performance

The firm has a market cap of $684.40 million, a P/E ratio of -6.94 and a beta of 2.15. The company has a quick ratio of 0.99, a current ratio of 1.30 and a debt-to-equity ratio of 2.72. The firm has a fifty day moving average of $7.64 and a 200-day moving average of $9.34.

Enviri (NYSE:NVRI) last issued 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). The business had revenue of $573.60 million during the quarter, compared to the consensus estimate of $613.63 million. Enviri had a negative net margin of 4.28% and a negative return on equity of 1.25%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS. Research analysts predict that Enviri Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVRI. JPMorgan Chase & Co. increased its holdings in Enviri by 111.9% in the third quarter. JPMorgan Chase & Co. now owns 491,650 shares of the company’s stock valued at $5,084,000 after purchasing an additional 259,606 shares during the last quarter. Barclays PLC boosted its stake in Enviri by 344.8% during the 3rd quarter. Barclays PLC now owns 132,106 shares of the company’s stock worth $1,367,000 after acquiring an additional 102,405 shares during the last quarter. Meros Investment Management LP bought a new stake in Enviri in the third quarter valued at approximately $2,950,000. Geode Capital Management LLC raised its holdings in Enviri by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,839,051 shares of the company’s stock worth $19,020,000 after purchasing an additional 28,166 shares during the period. Finally, Zacks Investment Management grew its holdings in shares of Enviri by 44.7% in the 3rd quarter. Zacks Investment Management now owns 23,708 shares of the company’s stock valued at $245,000 after buying an additional 7,323 shares during the period. Institutional investors and hedge funds own 93.43% of the company’s stock.

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.