Enviri (NYSE:NVRI) Trading 6.7% Higher – Time to Buy?

Enviri Co. (NYSE:NVRI) traded up 6.7% during trading on Tuesday . The company traded as high as $9.15 and last traded at $9.20. 181,059 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,073,827 shares. The stock had previously closed at $8.62.

Analysts Set New Price Targets

Separately, BMO Capital Markets decreased their target price 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 Price Performance

The firm has a market cap of $739.29 million, a price-to-earnings ratio of -7.50 and a beta of 2.15. The company has a quick ratio of 0.99, a current ratio of 1.30 and a debt-to-equity ratio of 2.72. The company’s 50-day moving average price is $7.70 and its 200-day moving average price is $9.35.

Enviri (NYSE:NVRI) last issued its earnings results on Thursday, October 31st. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $573.60 million during the quarter, compared to analyst estimates of $613.63 million. Enviri had a negative net margin of 4.28% and a negative return on equity of 1.25%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. On average, equities research analysts forecast that Enviri Co. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Enviri

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its position in shares of Enviri by 37.1% during the third quarter. CWM LLC now owns 5,662 shares of the company’s stock worth $59,000 after acquiring an additional 1,532 shares during the last quarter. FMR LLC grew its position in shares of Enviri by 34.4% during the third quarter. FMR LLC now owns 7,069 shares of the company’s stock worth $73,000 after acquiring an additional 1,809 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Enviri by 205.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,046 shares of the company’s stock worth $83,000 after acquiring an additional 5,411 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Enviri during the third quarter worth approximately $127,000. Finally, Hsbc Holdings PLC grew its position in shares of Enviri by 10.1% during the second quarter. Hsbc Holdings PLC now owns 15,174 shares of the company’s stock worth $130,000 after acquiring an additional 1,397 shares during the last quarter. 93.43% of the stock is currently owned by hedge funds and other 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.