Enviri (NYSE:NVRI) Trading Up 4.5% – Still a Buy?

Enviri Co. (NYSE:NVRI) shares rose 4.5% during mid-day trading on Tuesday . The company traded as high as $6.44 and last traded at $6.65. Approximately 376,809 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 571,714 shares. The stock had previously closed at $6.36.

Enviri Stock Performance

The company’s 50 day moving average is $8.09 and its 200-day moving average is $8.58. The company has a market capitalization of $529.33 million, a P/E ratio of -4.15 and a beta of 2.19. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 3.14.

Enviri (NYSE:NVRI) last issued its earnings results on Thursday, February 20th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.05. The business had revenue of $558.71 million during the quarter, compared to analysts’ expectations of $578.98 million. Enviri had a negative net margin of 5.46% and a negative return on equity of 0.90%. During the same period in the previous year, the company earned ($0.07) earnings per share. Equities analysts anticipate that Enviri Co. will post -0.13 EPS for the current fiscal year.

Institutional Trading of Enviri

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Enviri by 34.4% during the third quarter. FMR LLC now owns 7,069 shares of the company’s stock valued at $73,000 after purchasing an additional 1,809 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Enviri during the 4th quarter valued at about $78,000. Envestnet Asset Management Inc. bought a new stake in shares of Enviri in the fourth quarter worth approximately $86,000. 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 worth $86,000 after acquiring an additional 1,631 shares during the period. Finally, AXQ Capital LP purchased a new position in shares of Enviri during the fourth quarter valued at approximately $88,000. 93.43% of the stock is currently owned by hedge funds and other institutional investors.

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.