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

Energy Recovery, Inc. (NASDAQ:ERII) shares traded down 3.4% during mid-day 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

A number of equities research analysts have issued reports on the stock. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. B. Riley lowered their target price on Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. Evercore ISI lowered their target price on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, Scotiabank began coverage on Energy Recovery in a research report on Thursday, December 5th. They set a “buy” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $20.75.

Energy Recovery Price Performance

The company has a market capitalization of $889.45 million, a P/E ratio of 47.56 and a beta of 1.21. The business has a 50-day moving average of $15.01 and a 200-day moving average 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The company had revenue of $67.08 million during the quarter, compared to the consensus estimate of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. Sell-side analysts predict that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Rodney Clemente sold 21,444 shares of Energy Recovery stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares in the company, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total value of $817,000.00. Following the sale, the director now owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This trade represents a 6.73 % decrease in their ownership of the stock. 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 and hedge funds have recently made changes to their positions in ERII. Charles Schwab Investment Management Inc. lifted its position in shares of Energy Recovery by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 468,639 shares of the industrial products company’s stock worth $8,150,000 after purchasing an additional 7,440 shares during the last quarter. Alpha Wave Global LP lifted its position in shares of Energy Recovery by 93.0% during the third quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock worth $20,374,000 after purchasing an additional 564,463 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Energy Recovery by 10.6% during the third quarter. HighTower Advisors LLC now owns 33,239 shares of the industrial products company’s stock worth $578,000 after purchasing an additional 3,176 shares during the last quarter. Barclays PLC lifted its position in shares of 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 last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Energy Recovery by 4.3% during 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 last quarter. 83.58% of the stock is currently owned by institutional investors.

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.