Energy Recovery (NASDAQ:ERII) Sets New 12-Month High – Here’s What Happened

Energy Recovery, Inc. (NASDAQ:ERII)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $19.95 and last traded at $19.87, with a volume of 346397 shares traded. The stock had previously closed at $19.06.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James upgraded shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, July 9th.

Energy Recovery Trading Up 2.8 %

The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 57.65 and a beta of 1.22. The stock has a 50-day moving average of $17.26 and a 200-day moving average of $15.41.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts expect that Energy Recovery, Inc. will post 0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, SVP Rodney Clemente sold 6,505 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $17.98, for a total value of $116,959.90. Following the sale, the senior vice president now owns 133,823 shares in the company, valued at approximately $2,406,137.54. This trade represents a 0.00 % 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 this link. In other Energy Recovery news, CEO David W. Moon sold 2,550 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $17.97, for a total transaction of $45,823.50. Following the transaction, the chief executive officer now owns 87,101 shares of the company’s stock, valued at approximately $1,565,204.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rodney Clemente sold 6,505 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the sale, the senior vice president now owns 133,823 shares in the company, valued at $2,406,137.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,581 shares of company stock valued at $351,936 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Energy Recovery

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in shares of Energy Recovery by 28.3% during the 1st quarter. BNP Paribas Financial Markets now owns 99,064 shares of the industrial products company’s stock valued at $1,564,000 after purchasing an additional 21,840 shares during the period. SG Americas Securities LLC bought a new stake in Energy Recovery in the first quarter worth about $436,000. Redmond Asset Management LLC lifted its holdings in Energy Recovery by 9.0% in the 1st quarter. Redmond Asset Management LLC now owns 169,663 shares of the industrial products company’s stock valued at $2,679,000 after acquiring an additional 13,969 shares during the last quarter. Inspire Investing LLC boosted its position in shares of Energy Recovery by 11.8% during the 1st quarter. Inspire Investing LLC now owns 22,954 shares of the industrial products company’s stock valued at $362,000 after purchasing an additional 2,418 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Energy Recovery during the 1st quarter valued at about $158,000. Institutional investors 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.