Enviri (NYSE:NVRI) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Enviri Corporation (NYSE:NVRI) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $20.16 and traded as high as $20.77. Enviri shares last traded at $20.6630, with a volume of 558,580 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Enviri from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. BMO Capital Markets upped their price objective on shares of Enviri from $21.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings downgraded Enviri from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, October 14th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Enviri has an average rating of “Hold” and an average target price of $24.50.

Enviri Stock Up 8.6%

The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $20.46 and its 200 day moving average price is $20.16. The firm has a market cap of $582.49 million and a P/E ratio of -32.80.

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

Insider Buying and Selling at Enviri

In related news, Director Carolann Haznedar acquired 4,875 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average cost of $20.46 per share, with a total value of $99,742.50. Following the completion of the transaction, the director owned 42,955 shares of the company’s stock, valued at approximately $878,859.30. This trade represents a 12.80% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Peter Minan purchased 2,946 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was bought at an average cost of $20.27 per share, for a total transaction of $59,715.42. Following the completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Enviri in the 2nd quarter worth $45,735,000. OMERS ADMINISTRATION Corp increased its holdings in shares of Enviri by 183.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 921,561 shares of the company’s stock worth $18,081,000 after purchasing an additional 596,861 shares during the period. Bank of America Corp DE increased its holdings in shares of Enviri by 333.0% during the 1st quarter. Bank of America Corp DE now owns 912,015 shares of the company’s stock worth $17,894,000 after purchasing an additional 701,365 shares during the period. Paradigm Capital Management Inc. NY acquired a new position in shares of Enviri during the second quarter valued at about $13,320,000. Finally, Principal Financial Group Inc. raised its position in shares of Enviri by 2.0% during the first quarter. Principal Financial Group Inc. now owns 391,828 shares of the company’s stock valued at $7,688,000 after buying an additional 7,631 shares during the last quarter. 93.43% of the stock is owned by institutional investors.

About Enviri

Enviri Corporation (NYSE: NVRI) is an environmental solutions company that provides services and products designed to help industrial, commercial and government customers manage waste, recover materials and improve resource efficiency. The company serves customers in multiple regions, with operations spanning North America, Europe and other international markets.

Enviri’s Harsco Environmental business provides environmental services to the global steel industry. Its activities include the processing and beneficial reuse of steel slag and other byproducts, metal recovery, slag handling, site services and the production of mineral-based products used in areas such as construction and infrastructure.

Through its Clean Earth business, Enviri manages hazardous and non-hazardous waste streams for industrial, healthcare, pharmaceutical, retail and government customers.