Enviri (NVRI) Surges 27.9% on $3.04B Clean Earth Sale: Is This the Start of a Green Energy Power Play?

Summary
• Enviri (NVRI) rockets 27.9% to $17.36, hitting a 52-week high of $18.57
• $3.04B Clean Earth sale to Veolia triggers $14.50–$16.50/share cash payout for shareholders
• Harsco spin-off creates New Enviri with $2.0x net leverage and undrawn revolver
Enviri’s stock is in a tailwind after announcing a landmark $3.04 billion sale of its Clean Earth division to Veolia. The deal, expected to close by mid-2026, delivers a $14.50–$16.50/share cash payout to shareholders while spinning off Harsco Environmental and Rail into a new public entity. With a 27.9% intraday surge and $10.4 million turnover, the market is pricing in immediate value realization and long-term strategic clarity.

Clean Earth Divestiture Ignites Shareholder Value Realization
Enviri’s 27.9% intraday surge is directly tied to the $3.04 billion cash sale of its Clean Earth business to Veolia, a transaction that delivers immediate liquidity to shareholders and restructures the company’s capital base. The deal, approved by both boards, includes a $14.50–$16.50/share cash payout and a spin-off of Harsco Environmental and Rail into New Enviri. This creates a leaner entity with ~$1.35 billion in debt retirement, ~2.0x net leverage, and a robust balance sheet. Management’s emphasis on operational efficiency and debt reduction has reinvigorated investor confidence, particularly as the spin-off removes a historically underperforming segment.

Waste Management Sector M&A Activity Fuels Strategic Optimism
The Waste Management sector has seen $545.7 million in Q3 M&A activity, with peers like GFL Environmental and Republic Services aggressively pursuing tuck-in acquisitions. While Enviri’s Clean Earth sale is a divestiture rather than an acquisition, the broader sector’s focus on value realization and operational streamlining aligns with its strategic shift. However, Enviri’s 27.9% move outpaces Waste Management (WM)’s -0.01% intraday decline, highlighting the unique catalyst of its asset sale and spin-off.

Options Playbook: Capitalizing on NVRI’s Bullish Momentum
• MACD: 0.297 (above signal line 0.234), RSI: 69.1 (overbought), Bollinger Bands: $17.36 above upper band ($13.98)
• 200D MA: $9.24 (well below current price), 30D MA: $12.73 (support zone at $12.19–$12.24)
Enviri’s technicals scream short-term bullish momentum, with RSI nearing overbought territory and MACD divergence suggesting continued upside. Key resistance lies at the 52-week high of $18.57, while support is anchored by the 30D MA at $12.73. The options chain reveals two high-conviction plays:

NVRI20251219C17.5
• Strike: $17.50, Exp: 2025-12-19, IV: 23.76%, Delta: 0.475, Theta: -0.019, Gamma: 0.343, Turnover: 53,120
• IV: Moderate volatility, Delta: Sensitive to price moves, Theta: High time decay, Gamma: Strong sensitivity to price shifts
• This call option offers a 64% price change potential with high liquidity and gamma, ideal for a short-term rally toward the 52-week high. Projected payoff at 5% upside (ST = $18.23): max(0, $18.23 - $17.50) = $0.73/share.

NVRI20260116C17.5
• Strike: $17.50, Exp: 2026-01-16, IV: 28.47%, Delta: 0.511, Theta: -0.013, Gamma: 0.205, Turnover: 41,782
• IV: Slightly elevated, Delta: Balanced sensitivity, Theta: Moderate decay, Gamma: Stronger than average
• This longer-dated call provides a 78.57% price change potential with higher IV and liquidity, suitable for a mid-term play on New Enviri’s post-spin-off stability. Projected payoff at 5% upside: $0.73/share.

Action: Aggressive bulls should target NVRI20251219C17.5 for a 52-week high break, while NVRI20260116C17.5 offers a safer, mid-term bet on New Enviri’s operational clarity.

Backtest Enviri Stock Performance
After screening every trading day for NVRI.N from 2022-01-01 through 2025-11-21, I did not find any instances where   (intraday high − previous-day close) / previous-day close ≥ 28 %.Because no qualifying events exist, an event-driven back-test cannot be run—the engine returns an empty data set, which is what triggered the system error you saw.How would you like to proceed?A. Lower the surge threshold (e.g., 20 % or 15 %). B. Use a different definition—such as 28 % move based on close-to-close change. C. Extend the historical window (before 2022). D. Cancel the analysis.Let me know which option works best and I’ll rerun the test accordingly.

Enviri’s Green Transition: A Catalyst-Driven Bull Case
Enviri’s 27.9% surge is a catalyst-driven event, fueled by the Clean Earth sale and spin-off of Harsco into a leaner entity. With a 52-week high at $18.57 and a 2.0x net leverage profile, New Enviri is positioned to capitalize on its improved capital structure and operational focus. Investors should monitor the 52-week high breakout and the spin-off’s regulatory approval timeline. Meanwhile, Waste Management (WM)’s -0.01% drift underscores the sector’s divergence, with Enviri’s strategic clarity outpacing peers. Act now: Buy NVRI20251219C17.5 for a short-term rally or NVRI20260116C17.5 for a mid-term play on New Enviri’s value realization.