Enviri Corporation (NYSE:NVRI) Sees Large Growth in Short Interest

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

Enviri Price Performance

Enviri stock traded down $1.26 during midday trading on Thursday, hitting $20.55. 456,126 shares of the company’s stock were exchanged, compared to its average volume of 1,463,015. The company has a market cap of $577.45 million, a P/E ratio of -9.88 and a beta of 1.59. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.86 and a current ratio of 1.13. The stock has a 50-day moving average price of $19.97 and a two-hundred day moving average price of $19.06. Enviri has a 52-week low of $7.70 and a 52-week high of $22.26.

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

Enviri Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Peter Francis Minan acquired 8,333 shares of Enviri stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $19.25 per share, with a total value of $160,410.25. Following the transaction, the chief financial officer owned 16,434 shares of the company’s stock, valued at approximately $316,354.50. This trade represents a 102.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. purchased a new position in shares of Enviri during the first quarter valued at about $93,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Enviri by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,127 shares of the company’s stock valued at $313,000 after buying an additional 2,028 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Enviri by 3.1% during the 1st quarter. Empowered Funds LLC now owns 396,638 shares of the company’s stock valued at $2,638,000 after buying an additional 11,762 shares in the last quarter. Jane Street Group LLC grew its position in shares of Enviri by 116.0% in the 1st quarter. Jane Street Group LLC now owns 207,329 shares of the company’s stock worth $1,379,000 after buying an additional 111,359 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Enviri by 14.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,640 shares of the company’s stock worth $110,000 after buying an additional 1,554 shares during the period. 93.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on NVRI. Lake Street Capital restated a “buy” rating and issued a $25.00 target price on shares of Enviri in a research note on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enviri in a report on Tuesday, April 21st. Wall Street Zen raised shares of Enviri to a “hold” rating in a research note on Saturday, June 13th. Finally, BMO Capital Markets upped their target price on shares of Enviri from $19.00 to $19.50 and gave the stock a “market perform” rating in a report on Tuesday, May 12th. One research 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 data from MarketBeat, Enviri has an average rating of “Hold” and an average price target of $22.25.

Enviri Company Profile

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.