Enviri (NYSE:NVRI) Shares Gap Down – Time to Sell?

Enviri Co. (NYSE:NVRI) shares gapped down prior to trading on Thursday . The stock had previously closed at $8.73, but opened at $7.42. Enviri shares last traded at $7.40, with a volume of 297,610 shares changing hands.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets decreased their target price on 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 Price Performance

The stock’s 50-day moving average is $8.54 and its 200 day moving average is $9.19. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.99 and a current ratio of 1.30. The stock has a market capitalization of $624.69 million, a PE ratio of -6.35 and a beta of 2.14.

Enviri (NYSE:NVRI) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. Enviri had a negative return on equity of 1.25% and a negative net margin of 4.28%. During the same quarter last year, the business earned ($0.07) EPS. As a group, equities analysts expect that Enviri Co. will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. D. E. Shaw & Co. Inc. increased its position in 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 acquiring an additional 1,127,647 shares during the period. Brightline Capital Management LLC acquired a new position in shares of Enviri in the third quarter valued at approximately $10,340,000. Mill Road Capital Management LLC purchased a new stake in shares of Enviri during the third quarter worth approximately $10,167,000. Hsbc Holdings PLC lifted its stake in shares of Enviri by 5,438.2% in the 4th quarter. Hsbc Holdings PLC now owns 903,051 shares of the company’s stock worth $6,873,000 after acquiring an additional 886,745 shares during the period. Finally, Paradigm Capital Management Inc. NY boosted its holdings in shares of Enviri by 14.4% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 4,475,900 shares of the company’s stock valued at $34,464,000 after acquiring an additional 563,100 shares in the last quarter. 93.43% of the stock is currently owned by institutional investors and hedge funds.

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.