Short Interest in Enviri Co. (NYSE:NVRI) Increases By 20.8%

Enviri Co. (NYSE:NVRI) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,360,000 shares, an increase of 20.8% from the February 28th total of 3,610,000 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is presently 4.0 days.

Enviri Price Performance

Enviri stock traded up $0.18 during mid-day trading on Wednesday, hitting $6.89. The stock had a trading volume of 214,300 shares, compared to its average volume of 658,071. 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 has a one year low of $5.67 and a one year high of $12.79. The firm’s 50 day moving average is $7.70 and its 200 day moving average is $8.29. The firm has a market capitalization of $552.67 million, a P/E ratio of -4.33 and a beta of 2.19.

Enviri (NYSE:NVRI) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. Enviri had a negative net margin of 5.46% and a negative return on equity of 0.90%. The company had revenue of $558.71 million for the quarter, compared to the consensus estimate of $578.98 million. During the same period in the previous year, the firm posted ($0.07) EPS. On average, sell-side analysts forecast that Enviri will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Russell C. Hochman purchased 40,127 shares of the business’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $6.27 per share, with a total value of $251,596.29. Following the completion of the acquisition, the senior vice president now owns 120,357 shares of the company’s stock, valued at approximately $754,638.39. This trade represents a 50.01 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Tom George Vadaketh bought 40,297 shares of Enviri stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $6.20 per share, with a total value of $249,841.40. Following the completion of the acquisition, the chief financial officer now directly owns 132,431 shares in the company, valued at $821,072.20. This represents a 43.74 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enviri

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings 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. Dark Forest Capital Management LP bought a new position in Enviri during the fourth quarter valued at $78,000. Envestnet Asset Management Inc. purchased a new position in shares of Enviri in the 4th quarter worth $86,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Enviri by 17.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,187 shares of the company’s stock worth $86,000 after buying an additional 1,631 shares during the last quarter. Finally, AXQ Capital LP purchased a new stake in shares of Enviri during the 4th quarter valued at about $88,000. 93.43% of the stock is owned by 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.