Energy Recovery (NASDAQ:ERII) Shares Down 3.4% – Time to Sell?

Energy Recovery, Inc. (NASDAQ:ERII)’s share price fell 3.4% during trading on Monday . The stock traded as low as $15.92 and last traded at $15.83. 250,883 shares changed 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 have recently commented on ERII. Scotiabank began coverage on Energy Recovery in a research note on Thursday, December 5th. They set a “buy” rating and a $22.00 price target on the stock. B. Riley cut their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Seaport Res Ptn upgraded Energy Recovery to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Evercore ISI cut their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $20.75.

Energy Recovery Stock Up 2.4 %

The firm has a market cap of $889.45 million, a PE ratio of 47.56 and a beta of 1.21. The stock has a 50 day moving average price of $15.01 and a two-hundred day moving average price of $16.14.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The business had revenue of $67.08 million for the quarter, compared to analysts’ expectations of $67.39 million. As a group, equities analysts anticipate that Energy Recovery, Inc. will post 0.36 earnings per share for the current year.

Insider Transactions at Energy Recovery

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

Institutional Trading of Energy Recovery

Several large investors have recently made changes to their positions in ERII. Avanza Fonder AB purchased a new stake in Energy Recovery in the 4th quarter valued at $107,000. Schroder Investment Management Group purchased a new stake in Energy Recovery in the 4th quarter valued at $160,000. Nebula Research & Development LLC grew its holdings in Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after buying an additional 687 shares in the last quarter. Polymer Capital Management US LLC purchased a new stake in Energy Recovery in the 4th quarter valued at $211,000. Finally, Two Sigma Investments LP purchased a new stake in Energy Recovery in the 4th quarter valued at $229,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Recovery

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.