Enviri (NYSE:NVRI) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Enviri (NYSE:NVRI) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently issued reports on NVRI. Weiss Ratings upgraded shares of Enviri from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 25th. BMO Capital Markets upped their price target on Enviri from $21.00 to $24.00 and gave the stock a “market perform” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Enviri has a consensus rating of “Hold” and an average price target of $24.50.

Enviri Trading Up 0.6%

Shares of NVRI opened at $22.35 on Friday. The company has a 50-day simple moving average of $22.17 and a 200-day simple moving average of $20.51. Enviri has a 52-week low of $11.15 and a 52-week high of $24.20.

Enviri (NYSE:NVRI) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.32). The company had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $370.97 million. During the same period last year, the business earned $0.22 EPS. The firm’s revenue for the quarter was down 66.7% on a year-over-year basis. As a group, research analysts anticipate that Enviri will post -1.55 EPS for the current year.

Insider Transactions at Enviri

In other Enviri news, Director Carolann I. Haznedar bought 4,875 shares of the business’s stock in a transaction on 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 owned 42,955 shares in the company, valued at approximately $878,859.30. The trade was a 12.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Peter Minan purchased 2,946 shares of Enviri stock in a transaction on Tuesday, August 18th. The stock was acquired at an average cost of $20.27 per share, for a total transaction of $59,715.42. Following the acquisition, the chief financial officer directly owned 97,505 shares of the company’s stock, valued at approximately $1,976,426.35. This represents a 3.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Enviri in the second quarter valued at $45,735,000. Davidson Kempner Capital Management LP acquired a new stake in shares of Enviri during the third quarter worth $21,367,000. Hudson Bay Capital Management LP purchased a new position in Enviri during the fourth quarter worth about $26,880,000. Highbridge Capital Management LLC purchased a new position in Enviri during the fourth quarter worth about $26,802,000. Finally, Millennium Management LLC boosted its stake in Enviri by 4,621.0% in the 3rd quarter. Millennium Management LLC now owns 1,347,373 shares of the company’s stock worth $17,098,000 after buying an additional 1,318,833 shares during the last quarter. 93.43% of the stock is owned by hedge funds and other institutional investors.

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.