Enviri Corporation (NYSE:NVRI) Sees Significant Increase in Short Interest

Enviri Corporation (NYSE:NVRI) saw a large increase in short interest in June. As of June 15th, there was short interest totaling 2,598,476 shares, an increase of 259,847,500.0% from the May 31st total of 1 shares. Based on an average daily trading volume, of 696,578 shares, the short-interest ratio is currently 3.7 days. Approximately 3.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NVRI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enviri in a research report on Tuesday, April 21st. BMO Capital Markets increased their price objective on shares of Enviri from $19.00 to $19.50 and gave the company a “market perform” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Enviri to a “hold” rating in a research note on Saturday, June 13th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Enviri in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.25.

Insider Transactions at Enviri

In related news, CFO Peter Francis Minan acquired 8,333 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $19.25 per share, for a total transaction of $160,410.25. Following the completion of the purchase, the chief financial officer owned 16,434 shares of the company’s stock, valued at $316,354.50. This represents a 102.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Enviri

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVRI. KBC Group NV bought a new position in shares of Enviri in the first quarter worth about $31,000. Rockefeller Capital Management L.P. grew its stake in shares of Enviri by 204.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,882 shares of the company’s stock valued at $34,000 after acquiring an additional 1,264 shares during the period. Torren Management LLC purchased a new stake in Enviri in the 4th quarter worth approximately $37,000. Advisory Services Network LLC purchased a new stake in Enviri in the 3rd quarter worth approximately $27,000. Finally, State of Wyoming bought a new stake in Enviri during the 1st quarter worth approximately $68,000. Hedge funds and other institutional investors own 93.43% of the company’s stock.

Enviri Stock Performance

Shares of Enviri stock traded down $1.26 during trading on Thursday, hitting $20.55. 456,126 shares of the company’s stock traded hands, compared to its average volume of 1,463,015. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.13 and a quick ratio of 0.86. Enviri has a 1 year low of $7.70 and a 1 year high of $22.26. The stock has a market capitalization of $577.45 million, a P/E ratio of -9.88 and a beta of 1.59. The business has a 50-day simple moving average of $19.97 and a 200-day simple moving average of $19.06.

Enviri (NYSE:NVRI) last issued its earnings results on Monday, May 11th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.36. The business had revenue of $549.80 million during the quarter, compared to analyst estimates of $465.37 million. Enviri had a negative return on equity of 8.59% and a negative net margin of 7.50%.Enviri’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.18) EPS. As a group, analysts forecast that Enviri will post -0.45 EPS for the current year.

Enviri Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, January 1st were issued a dividend of $15.00 per share. The ex-dividend date of this dividend was Monday, June 1st.

About Enviri

Enviri Inc (NYSE: NVRI) is a provider of environmental monitoring, data intelligence and sustainability solutions for critical infrastructure and industrial operations. The company integrates Internet of Things (IoT) sensor hardware, cloud-based analytics and field services to collect, process and visualize environmental data. Enviri’s platform supports real-time monitoring and historical trend analysis across water, air and wastewater streams to help clients meet regulatory requirements and manage environmental risk.

Enviri’s product suite includes ruggedized sensor networks, remote data loggers, automated sampling systems and a web-based analytics portal.