Wall Street Zen Downgrades Enviri (NYSE:NVRI) to Sell

Key Points

• Wall Street Zen downgraded Enviri to “Sell” from “Hold,” while the broader analyst consensus remains “Hold” with a $24.50 target price.
• Enviri reported weaker-than-expected quarterly results, including an adjusted EPS loss of $0.63 versus expectations of $0.31 and revenue of $324 million, down 66.7% year over year.
• Despite the downgrade, company insiders bought shares, and institutional investors own a substantial 93.43% of Enviri’s outstanding stock.

Enviri (NYSE:NVRI - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts have also recently issued reports on NVRI. BMO Capital Markets upped their price objective on Enviri from $21.00 to $24.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 12th. Weiss Ratings raised Enviri from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.50.

Enviri Stock Performance

Shares of NVRI opened at $22.35 on Friday. Enviri has a twelve month low of $11.15 and a twelve month high of $24.20. The firm's fifty day simple moving average is $22.17 and its 200-day simple moving average is $20.51.

Enviri (NYSE:NVRI - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.63) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.32). The company had revenue of $324.00 million for the quarter, compared to analysts' expectations of $370.97 million. The company's quarterly revenue was down 66.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. Sell-side analysts anticipate that Enviri will post -1.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Enviri

In other news, Director Carolann I. Haznedar acquired 4,875 shares of the company's stock in a transaction on Monday, August 17th. The shares were bought at an average price of $20.46 per share, with a total value of $99,742.50. Following the completion of the acquisition, the director owned 42,955 shares in the company, valued at $878,859.30. This trade represents a 12.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter Minan bought 2,946 shares of Enviri stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average cost of $20.27 per share, with a total value of $59,715.42. Following the completion of the acquisition, the chief financial officer directly owned 97,505 shares in the company, valued at approximately $1,976,426.35. The trade was a 3.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.50% of the stock is owned by company insiders.

Institutional Trading of Enviri

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in Enviri by 333.0% in the 1st quarter. Bank of America Corp DE now owns 912,015 shares of the company's stock valued at $17,894,000 after buying an additional 701,365 shares during the last quarter. Kintayl Capital LP purchased a new position in Enviri during the 2nd quarter worth $1,213,000. OMERS ADMINISTRATION Corp raised its position in Enviri by 183.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 921,561 shares of the company's stock worth $18,081,000 after buying an additional 596,861 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in shares of Enviri in the 2nd quarter worth $13,320,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Enviri in the 1st quarter worth $3,417,000. 93.43% of the stock is owned by hedge funds and other institutional investors.

About Enviri

Enviri Inc NYSE: NVRI is a provider of environmental monitoring, data intelligence and sustainability solutions for critical infrastructure and industrial operations. The company integrates Internet of Things (IoT) sensor hardware, cloud-based analytics and field services to collect, process and visualize environmental data. Enviri’s platform supports real-time monitoring and historical trend analysis across water, air and wastewater streams to help clients meet regulatory requirements and manage environmental risk.

Enviri’s product suite includes ruggedized sensor networks, remote data loggers, automated sampling systems and a web-based analytics portal.

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