Enviri (NYSE:NVRI) Shares Gap Down - Time to Sell?

Enviri Co. (NYSE:NVRI - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $8.73, but opened at $7.42. Enviri shares last traded at $7.40, with a volume of 297,610 shares.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets cut their price objective on Enviri from $13.00 to $10.00 and set a "market perform" rating on the stock in a research note on Friday, November 1st.

Enviri Price Performance

The stock's 50 day moving average price is $8.53 and its two-hundred day moving average price is $9.13. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.25 and a quick ratio of 0.99. The firm has a market capitalization of $543.75 million, a price-to-earnings ratio of -4.27 and a beta of 2.14.

Enviri (NYSE:NVRI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.05. Enviri had a negative return on equity of 0.90% and a negative net margin of 5.46%. The business had revenue of $558.71 million during the quarter, compared to analysts' expectations of $578.98 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. On average, equities research analysts anticipate that Enviri Co. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Enviri

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its stake in shares of Enviri by 37.1% in the third quarter. CWM LLC now owns 5,662 shares of the company's stock valued at $59,000 after purchasing an additional 1,532 shares in the last quarter. FMR LLC raised its stake in shares of Enviri by 34.4% in the 3rd quarter. FMR LLC now owns 7,069 shares of the company's stock valued at $73,000 after buying an additional 1,809 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Enviri by 205.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,046 shares of the company's stock valued at $83,000 after acquiring an additional 5,411 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Enviri in the fourth quarter valued at about $78,000. Finally, Envestnet Asset Management Inc. acquired a new position in Enviri in the fourth quarter worth about $86,000. Institutional investors and hedge funds own 93.43% of the company's stock.

Enviri Company Profile

Enviri Corporation provides environmental solutions for industrial and specialty waste streams in the United States and internationally. The company operates through two segments: Harsco Environmental and Clean Earth. The Harsco Environmental segment offers on-site services under long-term contracts for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and meltshop and furnace services, such as under-vessel cleaning, removal of ladle slag, and general melt shop debris.