Enviri (NYSE:NVRI) Stock Price Down 4.2% – Time to Sell?

Enviri Corporation (NYSE:NVRI) traded down 4.2% during trading on Wednesday . The stock traded as low as $20.86 and last traded at $20.61. Approximately 73,396 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,114,597 shares. The stock had previously closed at $21.51.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVRI. Weiss Ratings raised Enviri from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 25th. BMO Capital Markets boosted their target price on shares of Enviri from $21.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of Enviri from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.50.

Enviri Stock Performance

The business has a 50-day moving average of $22.12 and a two-hundred day moving average of $20.57.

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

Insiders Place Their Bets

In other news, CFO Peter Minan bought 2,946 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired 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 owned 97,505 shares of the company’s stock, valued at $1,976,426.35. This trade represents a 3.12% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carolann Haznedar bought 4,875 shares of Enviri stock in a transaction that occurred on Monday, August 17th. The stock was 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 $878,859.30. This trade represents a 12.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Institutional Inflows and Outflows

A number of hedge funds and other 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 valued at $45,735,000. Highbridge Capital Management LLC bought a new stake in shares of Enviri in the 4th quarter worth about $26,802,000. OMERS ADMINISTRATION Corp increased its position 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 in the last quarter. Bank of America Corp DE increased its position 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 in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in Enviri during the 4th quarter valued at about $15,491,000. Institutional investors own 93.43% of the company’s stock.

About Enviri

Enviri Corporation, formerly known as Harsco Corporation, is an environmental solutions company that provides services for managing, processing and recycling industrial and regulated waste. The company serves customers in industries such as steelmaking, manufacturing, construction, energy and healthcare.

Enviri’s Harsco Environmental business supports steel producers with services that include the handling and processing of steel slag and other byproducts, metal recovery, material recycling and the production of processed aggregates and other products.