Enviri Co. (NYSE:NVRI) Short Interest Up 57.5% in November

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

Enviri Trading Up 1.0 %

NYSE NVRI traded up $0.07 on Friday, reaching $7.40. 385,194 shares of the company were exchanged, compared to its average volume of 471,949. Enviri has a fifty-two week low of $5.80 and a fifty-two week high of $12.79. The stock has a market capitalization of $593.04 million, a P/E ratio of -6.02 and a beta of 2.22. The business’s fifty day moving average price is $8.97 and its 200 day moving average price is $9.49. 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) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $573.60 million for the quarter, compared to analyst estimates of $613.63 million. Enviri had a negative return on equity of 1.25% and a negative net margin of 4.28%. Enviri’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 earnings per share. Analysts forecast that Enviri will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

Separately, BMO Capital Markets cut their price objective on shares of Enviri from $13.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, November 1st.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Brightline Capital Management LLC acquired a new position in shares of Enviri in the 3rd quarter valued at $10,340,000. Mill Road Capital Management LLC acquired a new stake in shares of Enviri in the third quarter valued at $10,167,000. Leeward Investments LLC MA lifted its stake in Enviri by 93.5% during the 3rd quarter. Leeward Investments LLC MA now owns 908,912 shares of the company’s stock worth $9,398,000 after acquiring an additional 439,102 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Enviri by 11.1% during 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 in the last quarter. Finally, Meros Investment Management LP purchased a new position in shares of Enviri in the third quarter valued at approximately $2,950,000. 93.43% of the stock is currently owned by hedge funds and other 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.