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

Key Points

• Enviri (NYSE: NVRI) was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a negative shift in analyst sentiment.
• The company's recent earnings report showed a loss of $0.22 per share, missing the consensus estimate by $0.11 and reflecting a 7.9% decline in revenue compared to the same quarter last year.
• Institutional investors are actively involved, with hedge funds buying significant stakes, leading to a scenario where 93.43% of the stock is owned by such investors.

Enviri (NYSE:NVRI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Enviri Stock Performance

Enviri stock remained flat at $8.86 during mid-day trading on Friday. 79,875 shares of the company were exchanged, compared to its average volume of 806,170. Enviri has a fifty-two week low of $4.72 and a fifty-two week high of $11.95. The firm has a market cap of $714.56 million, a P/E ratio of -4.53 and a beta of 1.77. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 3.55. The stock has a 50-day moving average of $8.80 and a two-hundred day moving average of $7.76.

Enviri (NYSE:NVRI - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.11). The business had revenue of $562.25 million during the quarter, compared to analysts' expectations of $576.50 million. Enviri had a negative net margin of 7.02% and a negative return on equity of 7.86%. The firm's quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. On average, research analysts predict that Enviri will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Inceptionr LLC bought a new position in shares of Enviri in the second quarter worth $140,000. XTX Topco Ltd bought a new position in shares of Enviri in the second quarter worth $860,000. Prudential Financial Inc. increased its holdings in shares of Enviri by 4.2% in the second quarter. Prudential Financial Inc. now owns 117,967 shares of the company's stock worth $1,024,000 after purchasing an additional 4,788 shares during the period. American Century Companies Inc. increased its holdings in shares of Enviri by 132.4% in the second quarter. American Century Companies Inc. now owns 70,586 shares of the company's stock worth $613,000 after purchasing an additional 40,216 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Enviri by 0.5% in the second quarter. Rhumbline Advisers now owns 238,076 shares of the company's stock worth $2,066,000 after purchasing an additional 1,150 shares during the period. Institutional investors 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.