Enviri (NYSE:NVRI) Shares Up 7.3% – Still a Buy?

Enviri Co. (NYSE:NVRI)’s stock price was up 7.3% during mid-day trading on Tuesday . The company traded as high as $7.15 and last traded at $7.23. Approximately 293,363 shares were traded during trading, a decline of 65% from the average daily volume of 834,934 shares. The stock had previously closed at $6.74.

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 for the company in a research note on Friday, November 1st.

Enviri Stock Up 6.0 %

The company has a debt-to-equity ratio of 3.14, a current ratio of 1.25 and a quick ratio of 0.99. The company’s 50-day moving average is $8.52 and its two-hundred day moving average is $9.10. The company has a market cap of $572.60 million, a P/E ratio of -4.50 and a beta of 2.14.

Enviri (NYSE:NVRI) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. Enviri had a negative return on equity of 0.90% and a negative net margin of 5.46%. The firm had revenue of $558.71 million for the quarter, compared to analysts’ expectations of $578.98 million. During the same period in the previous year, the firm earned ($0.07) EPS. As a group, equities analysts predict that Enviri Co. will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enviri

A number of hedge funds have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. increased its holdings in shares of Enviri by 30.5% during 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 purchasing an additional 1,127,647 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Enviri by 3.4% during the fourth quarter. Neuberger Berman Group LLC now owns 4,746,964 shares of the company’s stock worth $36,530,000 after purchasing an additional 155,146 shares in the last quarter. Paradigm Capital Management Inc. NY grew its stake in Enviri by 14.4% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 4,475,900 shares of the company’s stock worth $34,464,000 after buying an additional 563,100 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Enviri by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,468,989 shares of the company’s stock worth $34,411,000 after purchasing an additional 191,777 shares during the period. Finally, State Street Corp boosted its holdings in Enviri by 0.5% during the third quarter. State Street Corp now owns 2,988,970 shares of the company’s stock worth $30,906,000 after buying an additional 13,902 shares in the last quarter. 93.43% of the stock is currently owned by institutional investors.

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.