Energy Recovery (NASDAQ:ERII) Stock Price Down 3.4% – Here’s Why

Shares of Energy Recovery, Inc. (NASDAQ:ERII) fell 3.4% during trading on Monday . The company traded as low as $15.92 and last traded at $15.83. 250,883 shares traded hands during trading, a decline of 34% from the average session volume of 380,085 shares. The stock had previously closed at $16.38.

Analyst Ratings Changes

Several brokerages recently commented on ERII. Evercore ISI dropped their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. B. Riley decreased their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Scotiabank started coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $20.75.

Energy Recovery Trading Down 3.6 %

The stock has a 50-day moving average of $14.97 and a two-hundred day moving average of $16.14. The firm has a market cap of $867.96 million, a price-to-earnings ratio of 46.43 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm had revenue of $67.08 million during the quarter, compared to the consensus estimate of $67.39 million. Sell-side analysts expect that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Activity at Energy Recovery

In related news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the sale, the director now directly owns 693,182 shares of the company’s stock, valued at $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the completion of the transaction, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Energy Recovery

Several institutional investors have recently modified their holdings of ERII. Geode Capital Management LLC lifted its position in Energy Recovery by 4.3% in the third quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock worth $23,631,000 after purchasing an additional 56,306 shares during the period. Barclays PLC lifted its stake in Energy Recovery by 376.6% during the third quarter. Barclays PLC now owns 96,677 shares of the industrial products company’s stock worth $1,681,000 after purchasing an additional 76,393 shares during the period. JPMorgan Chase & Co. boosted its holdings in Energy Recovery by 66.6% during the third quarter. JPMorgan Chase & Co. now owns 274,893 shares of the industrial products company’s stock valued at $4,780,000 after purchasing an additional 109,847 shares in the last quarter. Alpha Wave Global LP grew its stake in shares of Energy Recovery by 93.0% in the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after purchasing an additional 564,463 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Energy Recovery by 552.4% in the 4th quarter. SG Americas Securities LLC now owns 106,301 shares of the industrial products company’s stock worth $1,563,000 after buying an additional 90,008 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.

Energy Recovery Company Profile

Energy Recovery, Inc, together with its subsidiaries, designs, manufactures, and sells energy efficiency technology solutions in the Americas, the Middle East, Africa, Asia, and Europe. The company operates through Water and Emerging Technologies segments. The company offers high and low pressure, and ultra pressure exchangers; AT and LPT hydraulic turbochargers; and high-pressure feed and circulation booster pumps for use in seawater and brackish desalination, and wastewater treatment.