Enviri (NYSE:NVRI) Reaches New 52-Week High – Time to Buy?

Shares of Enviri Corporation (NYSE:NVRI) reached a new 52-week high on Wednesday . The company traded as high as $22.40 and last traded at $22.1680, with a volume of 12336 shares. The stock had previously closed at $21.95.

Analyst Ratings Changes

Several analysts have recently weighed in on NVRI shares. BMO Capital Markets boosted their price objective on shares of Enviri from $19.00 to $19.50 and gave the stock a “market perform” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Enviri to a “hold” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Enviri in a research report on Tuesday, April 21st. One research 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.25.

Enviri Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 5.66. The firm has a 50-day simple moving average of $20.13 and a 200 day simple moving average of $19.16. The company has a market cap of $649.62 million, a price-to-earnings ratio of -11.10 and a beta of 1.59.

Enviri (NYSE:NVRI) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.36. The business had revenue of $549.80 million during the quarter, compared to the consensus estimate of $465.37 million. Enviri had a negative return on equity of 8.59% and a negative net margin of 7.50%.The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.18) earnings per share. On average, sell-side analysts predict that Enviri Corporation will post -0.45 earnings per share for the current fiscal year.

Enviri Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, June 1st. Investors of record on Friday, January 1st were paid a dividend of $15.00 per share. The ex-dividend date was Monday, June 1st.

Insider Transactions at Enviri

In other Enviri news, CFO Peter Francis Minan acquired 8,333 shares of the company’s stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $19.25 per share, for a total transaction of $160,410.25. Following the completion of the purchase, the chief financial officer owned 16,434 shares in the company, valued at $316,354.50. This trade represents a 102.86% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Enviri

A number of hedge funds and other institutional investors have recently made changes to their positions in NVRI. Pertento Partners LLP acquired a new position in Enviri in the 3rd quarter valued at about $43,542,000. Geode Capital Management LLC grew its stake in shares of Enviri by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,854,838 shares of the company’s stock valued at $33,243,000 after purchasing an additional 7,203 shares during the last quarter. Newtyn Management LLC grew its stake in shares of Enviri by 69.1% in the 3rd quarter. Newtyn Management LLC now owns 1,692,967 shares of the company’s stock valued at $21,484,000 after purchasing an additional 691,949 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new position in shares of Enviri in the third quarter valued at approximately $21,367,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Enviri by 10.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,535,519 shares of the company’s stock valued at $27,516,000 after purchasing an additional 140,634 shares during the period. Hedge funds and other institutional investors own 93.43% of the company’s stock.

About Enviri

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.