Brightline Capital Management LLC Raises Stock Holdings in Enviri Corporation $NVRI

Key Points

• Brightline Capital Management LLC increased its holdings in Enviri Corporation by 17.1% during the first quarter, owning 1,294,000 shares worth approximately $8.6 million, which makes it the sixth largest holding in their portfolio.
• Analyst ratings for Enviri have shifted, with Wall Street Zen downgrading the stock from a "hold" to a "sell" rating, amidst a consensus rating of "Hold" and a target price of $10.00.
• Enviri reported (−$0.22) earnings per share for the last quarter, missing the estimate and indicating a 7.9% decrease in revenue compared to the same quarter last year.

Brightline Capital Management LLC raised its position in Enviri Corporation (NYSE:NVRI - Free Report) by 17.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,294,000 shares of the company's stock after purchasing an additional 189,000 shares during the quarter. Enviri comprises 7.5% of Brightline Capital Management LLC's investment portfolio, making the stock its 6th biggest position. Brightline Capital Management LLC owned 1.61% of Enviri worth $8,605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NVRI. GAMMA Investing LLC increased its stake in Enviri by 1,216.8% during the 1st quarter. GAMMA Investing LLC now owns 12,128 shares of the company's stock worth $81,000 after buying an additional 11,207 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Enviri in the 4th quarter valued at $943,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Enviri by 83.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 140,065 shares of the company's stock valued at $931,000 after buying an additional 63,827 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Enviri by 266.9% in the 4th quarter. Squarepoint Ops LLC now owns 65,949 shares of the company's stock valued at $508,000 after buying an additional 47,974 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Enviri by 30.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,825,488 shares of the company's stock valued at $37,156,000 after buying an additional 1,127,647 shares during the last quarter. 93.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Enviri from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.00.

Enviri Stock Performance

Shares of NVRI traded down $0.20 during mid-day trading on Thursday, hitting $11.15. The company's stock had a trading volume of 517,315 shares, compared to its average volume of 846,839. Enviri Corporation has a one year low of $4.72 and a one year high of $11.95. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.88 and a current ratio of 1.19. The firm has a market capitalization of $899.25 million, a PE ratio of -5.68 and a beta of 1.77. The stock's 50-day moving average is $9.26 and its two-hundred day moving average is $7.85.

Enviri (NYSE:NVRI - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.11). The firm had revenue of $562.25 million during the quarter, compared to analyst estimates of $576.50 million. Enviri had a negative net margin of 7.02% and a negative return on equity of 7.86%. The business's revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. Enviri has set its FY 2025 guidance at -0.520--0.300 EPS. Q3 2025 guidance at -0.100-0.01 EPS. As a group, sell-side analysts anticipate that Enviri Corporation will post -0.13 EPS for the current year.

Enviri 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.