Enviri (NYSE:NVRI) Stock Price Down 4.2% – Here’s What Happened

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVRI. Wall Street Zen lowered Enviri from a “hold” rating to a “sell” rating in a report on Saturday. BMO Capital Markets increased their price objective on Enviri from $21.00 to $24.00 and gave the stock a “market perform” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded Enviri from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enviri presently has a consensus rating of “Hold” and a consensus target price of $24.50.

Enviri Trading Down 3.1%

The company has a fifty day simple moving average of $22.12 and a two-hundred day simple moving average of $20.57.

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

Insider Buying and Selling

In other news, CFO Peter Minan purchased 2,946 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were bought at an average price of $20.27 per share, with a total value of $59,715.42. Following the completion of the transaction, the chief financial officer directly owned 97,505 shares in the company, valued at $1,976,426.35. This trade represents a 3.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carolann I. Haznedar acquired 4,875 shares of Enviri stock in a transaction dated Monday, August 17th. The stock was purchased at an average price of $20.46 per share, with a total value of $99,742.50. Following the completion of the purchase, the director directly owned 42,955 shares of the company’s stock, valued at $878,859.30. The trade was a 12.80% increase in their position. The SEC filing for this purchase provides additional information.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Enviri during the second quarter valued at about $25,000. KBC Group NV bought a new position in shares of Enviri in the first quarter worth about $31,000. Rockefeller Capital Management L.P. increased its stake in shares of Enviri by 204.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,882 shares of the company’s stock worth $34,000 after purchasing an additional 1,264 shares during the period. State of Wyoming acquired a new position in shares of Enviri during the 2nd quarter worth about $46,000. Finally, Summit Securities Group LLC acquired a new position in shares of Enviri during the 1st quarter worth about $102,000. 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.