Enviri (NYSE:NVRI) Shares Up 8.3% Following Better-Than-Expected Earnings

Enviri Corporation (NYSE:NVRI) shares traded up 8.3% on Thursday following a stronger than expected earnings report. The stock traded as high as $22.92 and last traded at $22.2030. 357,849 shares were traded during trading, a decline of 64% from the average daily volume of 982,290 shares. The stock had previously closed at $20.51.

The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.38. The firm had revenue of $325.03 million during the quarter, compared to analysts’ expectations of $317.13 million. The company’s revenue was down 43.5% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NVRI. Wall Street Zen downgraded Enviri from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. BMO Capital Markets lifted their price target 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 cut shares of Enviri from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.50.

Insiders Place Their Bets

In other Enviri news, CFO Peter Minan acquired 2,946 shares of the firm’s stock in a transaction on 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 in the company, valued at $1,976,426.35. This represents a 3.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolann I. Haznedar acquired 4,875 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average cost of $20.46 per share, with a total value of $99,742.50. Following the transaction, the director directly owned 42,955 shares of the company’s stock, valued at approximately $878,859.30. This represents a 12.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Enviri

A number of institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new position in Enviri in the second quarter valued at about $25,000. KBC Group NV acquired a new position in shares of Enviri during the first quarter worth about $31,000. Rockefeller Capital Management L.P. lifted its stake in shares of Enviri by 204.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,882 shares of the company’s stock worth $34,000 after purchasing an additional 1,264 shares in the last quarter. State of Wyoming purchased a new stake in shares of Enviri in the second quarter worth about $46,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Enviri in the first quarter worth about $102,000. 93.43% of the stock is owned by hedge funds and other institutional investors.

Enviri Trading Up 8.5%

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 has a market cap of $627.51 million and a price-to-earnings ratio of -35.10. The business has a 50 day moving average price of $20.46 and a 200-day moving average price of $20.16.

Enviri Company Profile

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.