Enviri (NYSE:NVRI) Shares Gap Down – Here’s What Happened

Enviri Co. (NYSE:NVRI) gapped down before the market opened 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 traded.

Analysts Set New Price Targets

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

Enviri Trading Down 4.2 %

The business has a fifty day moving average price of $8.53 and a 200 day moving average price of $9.16. The company has a market capitalization of $580.61 million, a PE ratio of -4.56 and a beta of 2.14. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.99 and a current ratio of 1.25.

Enviri (NYSE:NVRI) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. The company had revenue of $558.71 million for the quarter, compared to the consensus estimate of $578.98 million. Enviri had a negative return on equity of 0.90% and a negative net margin of 5.46%. During the same period last year, the business posted ($0.07) EPS. Analysts expect that Enviri Co. will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Enviri

A number of large investors have recently modified their holdings of NVRI. Graham Capital Management L.P. grew its stake in shares of Enviri by 8.7% in the fourth quarter. Graham Capital Management L.P. now owns 18,069 shares of the company’s stock valued at $139,000 after buying an additional 1,443 shares in the last quarter. CWM LLC grew its stake in shares of Enviri by 37.1% in the third quarter. CWM LLC now owns 5,662 shares of the company’s stock valued at $59,000 after buying an additional 1,532 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Enviri by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,099 shares of the company’s stock valued at $347,000 after buying an additional 1,572 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Enviri by 17.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,187 shares of the company’s stock valued at $86,000 after buying an additional 1,631 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Enviri by 2.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 78,757 shares of the company’s stock valued at $606,000 after buying an additional 1,751 shares in the last quarter. 93.43% of the stock is currently owned by hedge funds and other institutional investors.

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.