Energy Recovery (NASDAQ:ERII) Stock Price Down 4.8% – Here’s Why

Energy Recovery, Inc. (NASDAQ:ERII) shares traded down 4.8% on Tuesday . The company traded as low as $17.93 and last traded at $18.00. 140,782 shares were traded during trading, a decline of 66% from the average session volume of 411,956 shares. The stock had previously closed at $18.91.

Wall Street Analyst Weigh In

ERII has been the topic of several analyst reports. StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research note 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 Stock Down 4.9 %

The company has a 50 day simple moving average of $17.09 and a 200-day simple moving average of $15.09. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 55.62 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.10. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. The business had revenue of $27.20 million for the quarter, compared to analyst estimates of $23.36 million. On average, equities research analysts expect that Energy Recovery, Inc. will post 0.37 EPS for the current fiscal year.

Insider Transactions at Energy Recovery

In other Energy Recovery news, CEO David W. Moon purchased 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $16.00 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now owns 32,750 shares of the company’s stock, valued at approximately $524,000. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO David W. Moon purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $16.00 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now owns 32,750 shares in the company, valued at approximately $524,000. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William Yeung sold 2,012 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $14.63, for a total value of $29,435.56. Following the transaction, the insider now owns 85,291 shares of the company’s stock, valued at approximately $1,247,807.33. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,444 shares of company stock worth $123,536. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Energy Recovery

A number of large investors have recently modified their holdings of ERII. Vanguard Group Inc. grew its position in Energy Recovery by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 3,009,429 shares of the industrial products company’s stock worth $47,519,000 after purchasing an additional 53,720 shares during the last quarter. Raymond James & Associates boosted its position in shares of Energy Recovery by 10.1% during the third quarter. Raymond James & Associates now owns 450,909 shares of the industrial products company’s stock worth $7,841,000 after buying an additional 41,286 shares during the period. Anchor Capital Management Company LLC grew its holdings in Energy Recovery by 18.2% in the 2nd quarter. Anchor Capital Management Company LLC now owns 420,081 shares of the industrial products company’s stock worth $5,583,000 after buying an additional 64,581 shares in the last quarter. Millennium Management LLC increased its position in Energy Recovery by 130.3% in the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after acquiring an additional 201,770 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Energy Recovery by 82.3% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 273,885 shares of the industrial products company’s stock valued at $3,640,000 after acquiring an additional 123,664 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.