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PHILADELPHIA—Vadaketh Tom George, Senior Vice President and Chief Financial Officer of Enviri Corp (NYSE:NVRI), recently purchased shares of the company valued at approximately $250,002. The transaction was disclosed in a recent SEC filing. According to InvestingPro data, this insider purchase comes as the stock trades near $6.51, down over 38% in the past six months.
On March 14, George acquired 40,297 shares of Enviri Corp’s common stock. The shares were bought at a weighted average price of $6.204 per share, with transaction prices ranging between $6.18 and $6.27.
Following this purchase, George’s total direct ownership in the company increased to 132,431 shares.
This acquisition highlights a significant investment by a top executive in Enviri Corp, a company operating within the services sector. Enviri, formerly known as Harsco Corp , is headquartered in Philadelphia, Pennsylvania. The company currently has a market capitalization of $515 million and generates annual revenue of $2.3 billion. For deeper insights into Enviri’s financial health and detailed analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes 8 additional key insights about the company’s performance and outlook.
In other recent news, Enviri Corporation reported its Q4 2024 earnings, revealing a narrower-than-expected loss with an EPS of -$0.04, surpassing the forecast of -$0.10. However, the company’s revenue fell short of expectations, coming in at $559 million compared to the projected $578.98 million. Despite achieving its highest adjusted EBITDA in a decade, Enviri is facing challenges in its rail and steel production markets, with ongoing macroeconomic pressures and supply chain issues. Moody’s has affirmed Enviri’s B1 rating but shifted its outlook to negative, citing execution risks in the rail business and difficulties in fulfilling European rail contracts. Similarly, S&P Global Ratings has revised Enviri’s outlook to negative from stable, while affirming its ’B+’ issuer credit rating, due to weaker than anticipated operating performance and potential demand pressure in key markets. Enviri’s Clean Earth segment continues to drive growth, contributing over 50% of consolidated EBITDA, while the company’s strategic focus aims to align more closely with this division. Analysts have highlighted the company’s need to address ongoing challenges in its rail segment, which could impact future cash flow and leverage ratios.
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