Enviri (NYSE:NVRI) Shares Gap Up - Here's Why

Enviri Co. (NYSE:NVRI - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.29, but opened at $8.52. Enviri shares last traded at $8.39, with a volume of 45,147 shares changing hands.

Analysts Set New Price Targets

Separately, BMO Capital Markets decreased their target price on Enviri from $13.00 to $10.00 and set a "market perform" rating for the company in a research report on Friday, November 1st.

Enviri Stock Up 0.5 %

The firm has a market capitalization of $667.52 million, a P/E ratio of -6.77 and a beta of 2.17. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.99 and a current ratio of 1.30. The stock has a 50 day moving average of $7.59 and a 200-day moving average of $9.34.

Enviri (NYSE:NVRI - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.08). The business had revenue of $573.60 million during the quarter, compared to analysts' expectations of $613.63 million. Enviri had a negative net margin of 4.28% and a negative return on equity of 1.25%. The firm's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Research analysts predict that Enviri Co. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enviri

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its stake in Enviri by 90.0% during the third quarter. Jane Street Group LLC now owns 275,111 shares of the company's stock valued at $2,845,000 after acquiring an additional 130,292 shares in the last quarter. Paradigm Capital Management Inc. NY grew its position in shares of Enviri by 3.5% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 3,908,400 shares of the company's stock valued at $33,729,000 after purchasing an additional 132,000 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Enviri by 11.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 3,823,704 shares of the company's stock worth $32,999,000 after purchasing an additional 383,395 shares during the period. Barclays PLC raised its position in shares of Enviri by 344.8% in the third quarter. Barclays PLC now owns 132,106 shares of the company's stock worth $1,367,000 after buying an additional 102,405 shares in the last quarter. Finally, FMR LLC boosted its stake in Enviri by 34.4% during the third quarter. FMR LLC now owns 7,069 shares of the company's stock valued at $73,000 after buying an additional 1,809 shares during the period. 93.43% of the stock is currently owned by institutional investors.

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.