Enviri (NYSE:NVRI) Shares Down 4.2% – Time to Sell?

Enviri Corporation (NYSE:NVRI) shares fell 4.2% during trading on Wednesday . The stock traded as low as $20.86 and last traded at $20.61. 73,396 shares traded hands during trading, a decline of 93% from the average daily volume of 1,114,597 shares. The stock had previously closed at $21.51.

Analysts Set New Price Targets

A number of research analysts have weighed in on NVRI shares. BMO Capital Markets raised their price objective on Enviri from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, August 12th. Weiss Ratings raised shares of Enviri from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 25th. Finally, Wall Street Zen cut shares of Enviri from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.50.

Enviri Stock Performance

The stock has a 50 day simple moving average of $22.04 and a two-hundred day simple moving average of $20.60.

Enviri (NYSE:NVRI) last issued its earnings results on Tuesday, August 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.32). The business had revenue of $324.00 million during the quarter, compared to analyst estimates of $370.97 million. During the same period in the previous year, the business earned $0.22 earnings per share. The firm’s revenue was down 66.7% on a year-over-year basis. Equities analysts forecast that Enviri Corporation will post -1.55 EPS for the current fiscal year.

Insider Activity at Enviri

In other news, Director Carolann I. Haznedar purchased 4,875 shares of Enviri stock in a transaction dated Monday, August 17th. The shares were purchased at an average price of $20.46 per share, with a total value of $99,742.50. Following the transaction, the director owned 42,955 shares in the company, valued at $878,859.30. This represents a 12.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Peter Minan acquired 2,946 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average price of $20.27 per share, for a total transaction of $59,715.42. Following the completion of the acquisition, the chief financial officer directly owned 97,505 shares of the company’s stock, valued at $1,976,426.35. The trade was a 3.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Enviri

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Enviri in the second quarter valued at approximately $45,735,000. Highbridge Capital Management LLC purchased a new position in shares of Enviri during the fourth quarter worth $26,802,000. OMERS ADMINISTRATION Corp boosted its position in shares of Enviri by 183.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 921,561 shares of the company’s stock worth $18,081,000 after buying an additional 596,861 shares during the period. Bank of America Corp DE grew its stake in shares of Enviri by 333.0% in the first quarter. Bank of America Corp DE now owns 912,015 shares of the company’s stock valued at $17,894,000 after buying an additional 701,365 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Enviri in the fourth quarter valued at $15,491,000. Institutional investors and hedge funds own 93.43% of the company’s stock.

Enviri Company Profile

Enviri Corporation, formerly known as Harsco Corporation, is an environmental solutions company that provides services for managing, processing and recycling industrial and regulated waste. The company serves customers in industries such as steelmaking, manufacturing, construction, energy and healthcare.

Enviri’s Harsco Environmental business supports steel producers with services that include the handling and processing of steel slag and other byproducts, metal recovery, material recycling and the production of processed aggregates and other products.