PHILADELPHIA—David C. Everitt, a director at Enviri Corp (NYSE:NVRI), recently sold 51,415 shares of the company's common stock. The transactions took place on November 8, with the shares being sold at a weighted average price of approximately $7.02, generating a total of $360,763.
Following these transactions, Everitt no longer holds any shares in Enviri Corp. The sales were conducted in multiple transactions, with prices ranging from $6.98 to $7.10 per share.
Enviri Corp, formerly known as Harsco Corp (NYSE:NVRI), is headquartered in Philadelphia and operates within the services sector.
In other recent news, Enviri Corporation reported total revenues of $574 million in its latest earnings call, marking a 4% decrease from the previous year. Despite challenges in the Harsco Environmental and Rail segments, the Clean Earth division achieved a record performance with over 20% adjusted EBITDA growth and a 17.5% EBITDA margin. However, the Rail segment experienced operational issues, leading to a $2 million adjusted EBITDA loss for the quarter. BMO Capital recently adjusted its outlook on Enviri shares, reducing the price target from $13.00 to $10.00, while maintaining a Market Perform rating. This revision reflects near-term challenges faced by the company, particularly in its Rail and HE divisions, and concerns over sluggish free cash flow. Despite these challenges, Enviri has adjusted its 2024 EBITDA outlook to $317 million - $327 million, with a projected negative free cash flow of $10 million for the year. The company remains optimistic about the future, expecting improved margin expansion, EBITDA, and top-line growth, particularly in the Clean Earth division. Enviri's long-term strategy targets an EBITDA exceeding $400 million by 2027, with free cash flow projected at over $150 million. These are recent developments that highlight the company's resilience and adaptability amidst sector-specific and macroeconomic challenges.
InvestingPro Insights
The recent insider sale by David C. Everitt at Enviri Corp (NYSE:NVRI) comes at a time when the company faces several challenges, as highlighted by InvestingPro data and tips.
According to InvestingPro, Enviri's stock price has experienced significant volatility, with a 31.52% decline over the past three months. This downward trend aligns with an InvestingPro Tip indicating that the stock has fared poorly over the last month. The current price of $7.30 represents just 56.45% of its 52-week high, suggesting potential value for investors if the company can overcome its current hurdles.
Despite these challenges, it's worth noting that Enviri Corp has a market capitalization of $579.38 million and generated revenue of $2.09 billion in the last twelve months as of Q3 2023. However, the company's profitability remains a concern, as reflected in its negative P/E ratio of -11.75 and an InvestingPro Tip highlighting that the company is not expected to be profitable this year.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips that could provide valuable insights into Enviri Corp's financial health and market position. These tips, along with real-time metrics, can help investors make more informed decisions in light of recent insider activities and market trends.
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