Enviri Co. (NYSE:NVRI) Sees Significant Growth in Short Interest

Enviri Co. (NYSE:NVRI - Get Free Report) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 2,410,000 shares, an increase of 57.5% from the October 31st total of 1,530,000 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily volume of 447,900 shares, the days-to-cover ratio is currently 5.4 days.

Analyst Upgrades and Downgrades

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

Enviri Price Performance

NYSE:NVRI traded up $0.07 during mid-day trading on Friday, reaching $7.40. 385,194 shares of the stock were exchanged, compared to its average volume of 471,950. The business has a fifty day moving average price of $8.90 and a 200 day moving average price of $9.49. The firm has a market capitalization of $593.04 million, a PE ratio of -6.02 and a beta of 2.22. Enviri has a 1-year low of $5.80 and a 1-year high of $12.79. The company has a current ratio of 1.30, a quick ratio of 0.99 and a debt-to-equity ratio of 2.72.

Enviri (NYSE:NVRI - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $573.60 million during the quarter, compared to analysts' expectations of $613.63 million. Enviri had a negative return on equity of 1.25% and a negative net margin of 4.28%. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. Research analysts expect that Enviri will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enviri

Institutional investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Enviri during the 2nd quarter valued at about $26,000. CWM LLC lifted its holdings in shares of Enviri by 137.6% during the 2nd quarter. CWM LLC now owns 4,130 shares of the company's stock valued at $36,000 after buying an additional 2,392 shares during the last quarter. FMR LLC lifted its holdings in Enviri by 34.4% in the 3rd quarter. FMR LLC now owns 7,069 shares of the company's stock worth $73,000 after purchasing an additional 1,809 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Enviri in the 1st quarter worth approximately $70,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Enviri in the 3rd quarter worth approximately $127,000. 93.43% of the stock is currently owned by institutional investors and hedge funds.

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.