Meros Investment Management LP Makes New $2.95 Million Investment in Enviri Co. (NYSE:NVRI)

Meros Investment Management LP bought a new position in Enviri Co. (NYSE:NVRI) in the third quarter, HoldingsChannel reports. The fund bought 285,290 shares of the company’s stock, valued at approximately $2,950,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Enviri in the second quarter valued at about $26,000. CWM LLC increased its stake in shares of Enviri by 137.6% in the second 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 period. FMR LLC increased its stake in shares of Enviri by 34.4% in 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. DekaBank Deutsche Girozentrale increased its stake in shares of Enviri by 205.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,046 shares of the company’s stock valued at $83,000 after buying an additional 5,411 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Enviri in the third quarter valued at about $127,000. Institutional investors and hedge funds own 93.43% of the company’s stock.

Enviri Stock Down 0.1 %

Shares of Enviri stock opened at $7.69 on Wednesday. Enviri Co. has a one year low of $6.57 and a one year high of $12.79. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.30 and a quick ratio of 0.99. The stock’s 50-day moving average is $8.51 and its 200 day moving average is $9.46. The firm has a market cap of $616.24 million, a price-to-earnings ratio of -6.25 and a beta of 2.18.

Enviri (NYSE:NVRI) last announced its earnings results on Thursday, October 31st. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Enviri had a negative net margin of 4.28% and a negative return on equity of 1.25%. The business had revenue of $573.60 million for the quarter, compared to the consensus estimate of $613.63 million. During the same quarter in the previous year, the company earned $0.05 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts anticipate that Enviri Co. will post -0.11 EPS for the current year.

Analyst Ratings Changes

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

About Enviri

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.