Enviri (NYSE:NVRI) Shares Gap Up – Here’s Why

Enviri Co. (NYSE:NVRI)’s share price gapped up prior to trading 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 traded.

Analyst Ratings Changes

Separately, BMO Capital Markets reduced 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 Trading Up 0.5 %

The company has a 50 day moving average of $7.59 and a two-hundred day moving average of $9.34. The stock has a market capitalization of $667.52 million, a PE ratio of -6.77 and a beta of 2.17. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.99 and a current ratio of 1.30.

Enviri (NYSE:NVRI) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The business had revenue of $573.60 million for the quarter, compared to analysts’ expectations of $613.63 million. Enviri had a negative return on equity of 1.25% and a negative net margin of 4.28%. Enviri’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. Sell-side analysts predict that Enviri Co. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Enviri

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC lifted its position in Enviri by 90.0% during the 3rd quarter. Jane Street Group LLC now owns 275,111 shares of the company’s stock worth $2,845,000 after acquiring an additional 130,292 shares during the period. Paradigm Capital Management Inc. NY lifted its holdings in shares of 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 purchasing an additional 132,000 shares during the period. D. E. Shaw & Co. Inc. boosted its position 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 during the last quarter. Barclays PLC increased its holdings in Enviri by 344.8% in the 3rd quarter. Barclays PLC now owns 132,106 shares of the company’s stock worth $1,367,000 after buying an additional 102,405 shares during the period. Finally, FMR LLC raised its position in Enviri by 34.4% during the 3rd quarter. FMR LLC now owns 7,069 shares of the company’s stock worth $73,000 after buying an additional 1,809 shares during the last quarter. 93.43% of the stock is owned by institutional investors and hedge funds.

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.