Enviri (NYSE:NVRI) Stock Breaks Above Two Hundred Day Moving Average – Time to Sell?

Enviri Corporation (NYSE:NVRI)’s stock 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 trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings cut Enviri from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. Wall Street Zen lowered shares of Enviri from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Finally, BMO Capital Markets increased their target price on shares of Enviri from $21.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.

Enviri Trading Up 1.6%

The firm has a fifty day moving average of $20.49 and a 200-day moving average of $20.22. The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 0.56.

Enviri (NYSE:NVRI) last issued its earnings results on Thursday, November 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.38. The business had revenue of $325.03 million during the quarter, compared to the consensus estimate of $317.13 million. The firm’s revenue was down 43.5% on a year-over-year basis. As a group, equities analysts predict that Enviri Corporation will post -1.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Peter Minan purchased 2,946 shares of the business’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 purchase, 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 acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Carolann Haznedar purchased 4,875 shares of Enviri stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $20.46 per share, for a total transaction of $99,742.50. Following the completion of the transaction, the director directly owned 42,955 shares in the company, valued at $878,859.30. The trade was a 12.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Enviri

Several hedge funds have recently added to or reduced their stakes in NVRI. BlackRock Inc. bought a new stake in shares of Enviri in the second quarter worth about $45,735,000. OMERS ADMINISTRATION Corp raised its position in shares of Enviri by 183.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 921,561 shares of the company’s stock worth $18,081,000 after purchasing an additional 596,861 shares during the period. Bank of America Corp DE raised its position in shares of Enviri by 333.0% during the first quarter. Bank of America Corp DE now owns 912,015 shares of the company’s stock worth $17,894,000 after purchasing an additional 701,365 shares during the period. Paradigm Capital Management Inc. NY acquired a new stake in shares of Enviri during the second quarter worth about $13,320,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Enviri by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 391,828 shares of the company’s stock valued at $7,688,000 after purchasing an additional 7,631 shares in the last quarter. 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.