Enviri (NYSE:NVRI) Shares Gap Up – Still a Buy?

Enviri Co. (NYSE:NVRI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $8.29, but opened at $8.52. Enviri shares last traded at $8.39, with a volume of 45,147 shares.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets lowered their price objective on shares of Enviri from $13.00 to $10.00 and set a “market perform” rating on the stock in a research report on Friday, November 1st.

Enviri Trading Up 0.2 %

The firm has a market capitalization of $665.92 million, a price-to-earnings ratio of -6.76 and a beta of 2.17. The business’s 50 day moving average price is $7.62 and its 200-day moving average price is $9.34. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.30 and a quick ratio of 0.99.

Enviri (NYSE:NVRI) last released its 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 business had revenue of $573.60 million for the quarter, compared to analyst estimates of $613.63 million. Enviri had a negative return on equity of 1.25% and a negative net margin of 4.28%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. Equities analysts forecast that Enviri Co. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Enviri

A number of hedge funds and other institutional investors have recently bought and sold shares of NVRI. Jane Street Group LLC increased its holdings in shares of Enviri by 90.0% in the 3rd quarter. Jane Street Group LLC now owns 275,111 shares of the company’s stock valued at $2,845,000 after purchasing an additional 130,292 shares in the last quarter. Paradigm Capital Management Inc. NY grew its position in Enviri by 3.5% during the second quarter. Paradigm Capital Management Inc. NY now owns 3,908,400 shares of the company’s stock worth $33,729,000 after buying an additional 132,000 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in Enviri by 11.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 3,823,704 shares of the company’s stock valued at $32,999,000 after buying an additional 383,395 shares in the last quarter. Barclays PLC lifted its position in shares of Enviri by 344.8% during the 3rd quarter. Barclays PLC now owns 132,106 shares of the company’s stock valued at $1,367,000 after acquiring an additional 102,405 shares during the period. Finally, FMR LLC boosted its stake in shares of Enviri by 34.4% during the 3rd quarter. FMR LLC now owns 7,069 shares of the company’s stock worth $73,000 after acquiring an additional 1,809 shares in the last quarter. Institutional investors and hedge funds own 93.43% of the company’s stock.

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.