Enviri Corporation (NYSE: NVRI) experienced a significant increase in its stock price, reaching a new 52-week high of $18.77 during midday trading on Wednesday. The share price has since settled at $18.74, following a previous close of $18.28. Trading volume reached 205,507 shares, indicating heightened investor interest in the company.
Analyst Ratings Influence Market Activity
Recent research reports have played a pivotal role in shaping market perceptions of Enviri. Zacks Research upgraded the company to a “hold” rating on December 16, 2023, while CJS Securities issued a similar recommendation on December 11, 2023. Conversely, Weiss Ratings maintained a “sell (D-)” rating on October 8, 2023. Wall Street Zen also moved from a “sell” to a “hold” rating on November 15, 2023. Currently, two analysts have assigned a hold rating, while one has issued a sell rating, resulting in an average rating of “Reduce” according to MarketBeat.com.
Enviri’s stock price increased by 2.5% following the release of its quarterly earnings report on November 10, 2023. The company reported earnings per share (EPS) of ($0.08), which fell short of analysts’ consensus estimates of ($0.05) by $0.03. Despite this, Enviri’s revenue for the quarter was $574.82 million, slightly surpassing expectations of $573.60 million. In the same quarter last year, the company’s EPS was ($0.01), indicating a year-over-year revenue increase of 0.2%.
Future Projections and Insider Activity
Looking ahead, Enviri has set its fiscal year 2025 guidance at an EPS range of ($0.740) to ($0.620), with a projected Q4 2025 EPS of ($0.260) to ($0.130). Research analysts predict that the company will report an EPS of ($0.13) for the current fiscal year.
In addition to stock performance, insider trading activity has drawn attention. Senior Vice President Jennifer Ott Kozak sold 9,692 shares on December 8, 2023, at an average price of $18.18, for a total of $176,200.56. Following this transaction, she retains ownership of 8,181 shares, valued at $148,730.58. This sale represents a significant reduction in her holdings, decreasing her ownership by 54.23%. Currently, company insiders own approximately 2.50% of Enviri’s stock.
Institutional investors have also been active in adjusting their positions in Enviri. SG Americas Securities LLC acquired a new stake valued at around $11,514,000 in the fourth quarter. Wealth Enhancement Advisory Services LLC increased its stake by 5.3%, now holding 17,420 shares worth $317,000. Meanwhile, JPMorgan Chase & Co. raised its stake by 121.9%, owning 162,450 shares valued at $2,061,000 after acquiring an additional 89,227 shares in the previous quarter. Overall, institutional investors hold approximately 93.43% of Enviri’s stock.
Enviri Corporation is a key player in environmental monitoring and sustainability solutions, integrating Internet of Things (IoT) technologies to enhance data collection and analysis for critical infrastructure and industrial operations. The firm focuses on providing real-time monitoring across various environmental sectors, including water and air quality, to assist clients in meeting regulatory requirements and managing environmental risks.
