JPMorgan Chase & Co. Boosts Stake in Enviri Corporation $NVRI

JPMorgan Chase & Co. raised its position in Enviri Corporation (NYSE:NVRI) by 121.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 162,450 shares of the company’s stock after buying an additional 89,227 shares during the period. JPMorgan Chase & Co. owned 0.20% of Enviri worth $2,061,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. AlphaQuest LLC increased its position in shares of Enviri by 1,077.5% during the third quarter. AlphaQuest LLC now owns 102,243 shares of the company’s stock valued at $1,297,000 after acquiring an additional 93,560 shares during the last quarter. Pertento Partners LLP purchased a new stake in shares of Enviri during the third quarter valued at approximately $43,542,000. 1060 Capital LLC purchased a new stake in shares of Enviri during the second quarter valued at approximately $5,604,000. Clearline Capital LP purchased a new stake in shares of Enviri during the third quarter valued at approximately $1,194,000. Finally, Optimize Financial Inc purchased a new stake in shares of Enviri during the third quarter valued at approximately $342,000. 93.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on NVRI shares. Lake Street Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of Enviri in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enviri in a report on Thursday, January 22nd. Zacks Research raised shares of Enviri to a “hold” rating in a report on Tuesday, December 16th. Finally, CJS Securities raised shares of Enviri to a “hold” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.00.

Enviri Trading Down 2.3%

NYSE:NVRI opened at $19.44 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 5.18. The stock has a market capitalization of $1.58 billion, a PE ratio of -9.17 and a beta of 1.72. The firm’s 50 day moving average is $18.72 and its 200 day moving average is $16.59. Enviri Corporation has a 12 month low of $4.72 and a 12 month high of $19.97.

Enviri (NYSE:NVRI) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. The company had revenue of $555.01 million for the quarter, compared to analysts’ expectations of $550.90 million. Enviri had a negative net margin of 7.62% and a negative return on equity of 13.47%. Enviri’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. Sell-side analysts expect that Enviri Corporation will post -0.13 earnings per share for the current year.

Enviri Profile

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.