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

Shares of Enviri Co. (NYSE:NVRI) gapped up before the market opened 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 Upgrades and Downgrades

Separately, BMO Capital Markets reduced their price target on shares of Enviri from $13.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, November 1st.

Enviri Stock Up 0.2 %

The business has a 50 day simple moving average of $7.62 and a 200 day simple moving average of $9.34. The company has a market capitalization of $665.92 million, a price-to-earnings ratio of -6.76 and a beta of 2.17. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.30 and a quick ratio of 0.99.

Enviri (NYSE:NVRI) last posted its earnings results on Thursday, October 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $573.60 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.05 EPS. As a group, equities analysts predict that Enviri Co. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enviri

Several institutional investors have recently modified their holdings of the business. CWM LLC increased its holdings in Enviri by 37.1% during the 3rd quarter. CWM LLC now owns 5,662 shares of the company’s stock worth $59,000 after purchasing an additional 1,532 shares during the period. FMR LLC boosted its position in shares of Enviri by 34.4% during the 3rd quarter. FMR LLC now owns 7,069 shares of the company’s stock worth $73,000 after acquiring an additional 1,809 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Enviri by 205.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,046 shares of the company’s stock worth $83,000 after acquiring an additional 5,411 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Enviri during the third quarter worth approximately $127,000. Finally, Hsbc Holdings PLC boosted its holdings in Enviri by 10.1% in the second quarter. Hsbc Holdings PLC now owns 15,174 shares of the company’s stock valued at $130,000 after purchasing an additional 1,397 shares in the last quarter. Institutional investors and hedge funds own 93.43% of the company’s stock.

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.