The market may have been pessimistic about Enviri's performance, leading to the long-term underperformance of its stock. Despite the recent rise in share price, caution is advised due to the company's history of underperformance.

Enviri's P/S is low attributed to its slower growth. Investor anticipation of limited future growth contributes to reluctance for paying a high stock price. Unless fortunes change significantly, justifying a higher P/S may be challenging.