Enviri (NYSE:NVRI) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Enviri Corporation (NYSE:NVRI)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $20.16 and traded as high as $20.77. Enviri shares last traded at $20.6630, with a volume of 558,580 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen lowered Enviri from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Weiss Ratings downgraded shares of Enviri from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, October 14th. Finally, BMO Capital Markets boosted their price target on shares of Enviri from $21.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, August 12th. One 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.50.

Enviri Price Performance

The stock has a 50-day simple moving average of $20.46 and a 200 day simple moving average of $20.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.43. The stock has a market capitalization of $582.49 million and a P/E ratio of -32.80.

Enviri (NYSE:NVRI) last posted its earnings results on Tuesday, August 11th. The company reported ($0.63) earnings per share 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. The company’s quarterly revenue was down 66.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 EPS. On average, equities analysts forecast that Enviri Corporation will post -1.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Peter Minan purchased 2,946 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average cost of $20.27 per share, with a total value of $59,715.42. Following the acquisition, the chief financial officer owned 97,505 shares in the company, valued at approximately $1,976,426.35. This trade represents a 3.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolann I. Haznedar acquired 4,875 shares of the stock in a transaction on Monday, August 17th. The shares were purchased at an average price of $20.46 per share, for a total transaction of $99,742.50. Following the transaction, the director directly owned 42,955 shares in the company, valued at approximately $878,859.30. This trade represents a 12.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Ethic Inc. bought a new stake in shares of Enviri during the third quarter worth $237,000. CenterBook Partners LP boosted its holdings in shares of Enviri by 111.2% during the 3rd quarter. CenterBook Partners LP now owns 79,669 shares of the company’s stock valued at $1,556,000 after acquiring an additional 41,944 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Enviri during the 2nd quarter valued at $25,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Enviri during the 2nd quarter worth $491,000. Finally, Newtyn Management LLC bought a new stake in Enviri during the 2nd quarter worth $8,214,000. Institutional investors and hedge funds own 93.43% of the company’s stock.

About Enviri

Enviri Corporation (NYSE: NVRI) is an environmental solutions company that provides services and products designed to help industrial, commercial and government customers manage waste, recover materials and improve resource efficiency. The company serves customers in multiple regions, with operations spanning North America, Europe and other international markets.

Enviri’s Harsco Environmental business provides environmental services to the global steel industry. Its activities include the processing and beneficial reuse of steel slag and other byproducts, metal recovery, slag handling, site services and the production of mineral-based products used in areas such as construction and infrastructure.

Through its Clean Earth business, Enviri manages hazardous and non-hazardous waste streams for industrial, healthcare, pharmaceutical, retail and government customers.