Enviri (NYSE:NVRI) Trading 4.3% Higher - What's Next?

Key Points

• Enviri Corporation's shares rose by 4.3% during mid-day trading, reaching a high of $9.72, although trading volume significantly decreased to 129,820 shares compared to the average of 807,806 shares.
• Wall Street analysts downgraded Enviri from a "hold" to a "sell" rating, following the company's reported earnings of ($0.22) per share, which was below consensus estimates.
• Institutional investors control 93.43% of Enviri's stock, with significant stake increases from firms such as CWM LLC and Brooklyn Investment Group over recent quarters.

Shares of Enviri Corporation (NYSE:NVRI - Get Free Report) traded up 4.3% during mid-day trading on Thursday . The company traded as high as $9.72 and last traded at $9.86. 129,820 shares changed hands during trading, a decline of 84% from the average session volume of 807,806 shares. The stock had previously closed at $9.45.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Enviri from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

Enviri Stock Performance

The firm has a market capitalization of $801.64 million, a PE ratio of -5.09 and a beta of 1.77. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.19 and a quick ratio of 0.88. The stock has a 50-day moving average price of $8.83 and a 200-day moving average price of $7.77.

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

Institutional Investors Weigh In On Enviri

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of Enviri by 231.7% in the second quarter. CWM LLC now owns 4,893 shares of the company's stock valued at $42,000 after buying an additional 3,418 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Enviri by 11,332.3% in the first quarter. Brooklyn Investment Group now owns 7,431 shares of the company's stock valued at $49,000 after buying an additional 7,366 shares in the last quarter. Entropy Technologies LP acquired a new stake in Enviri during the 1st quarter valued at $70,000. Teacher Retirement System of Texas acquired a new stake in Enviri during the 1st quarter valued at $74,000. Finally, Dark Forest Capital Management LP acquired a new stake in Enviri during the 4th quarter valued at $78,000. 93.43% of the stock is currently 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.

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