Enviri (NYSE:NVRI) Trading Down 3.8% – What’s Next?

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

Wall Street Analyst Weigh In

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

Enviri Stock Performance

The stock has a fifty day simple moving average of $7.64 and a 200-day simple moving average of $9.34. 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 company has a market capitalization of $684.40 million, a P/E ratio of -6.94 and a beta of 2.15.

Enviri (NYSE:NVRI) last announced its quarterly 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 firm had revenue of $573.60 million for 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 company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. Equities analysts forecast that Enviri Co. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Enviri

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in shares of Enviri by 37.1% during 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 during the last quarter. FMR LLC lifted its position in Enviri by 34.4% during the 3rd quarter. FMR LLC now owns 7,069 shares of the company’s stock worth $73,000 after buying an additional 1,809 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Enviri by 205.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,046 shares of the company’s stock worth $83,000 after acquiring an additional 5,411 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Enviri during the 3rd quarter worth about $127,000. Finally, Hsbc Holdings PLC increased its position in Enviri by 10.1% in the 2nd quarter. Hsbc Holdings PLC now owns 15,174 shares of the company’s stock valued at $130,000 after acquiring an additional 1,397 shares in the last quarter. 93.43% of the stock is owned by institutional investors and hedge funds.

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.