Energy Recovery (NASDAQ:ERII) Reaches New 1-Year Low at $12.73

Energy Recovery, Inc. (NASDAQ:ERII)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.73 and last traded at $13.14, with a volume of 119931 shares changing hands. The stock had previously closed at $14.65.

Analyst Upgrades and Downgrades

Separately, Evercore ISI cut their price target on Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th.

Energy Recovery Price Performance

The company has a market capitalization of $735.54 million, a PE ratio of 35.43 and a beta of 1.26. The business has a 50-day moving average of $14.87 and a 200 day moving average of $16.62.

Energy Recovery (NASDAQ:ERII) last posted its earnings results on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $57.19 million during the quarter, compared to analysts’ expectations of $63.57 million. Energy Recovery had a return on equity of 11.99% and a net margin of 16.75%. Energy Recovery’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. As a group, research analysts anticipate that Energy Recovery, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling at Energy Recovery

In related news, CEO David W. Moon acquired 10,750 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $15.51 per share, for a total transaction of $166,732.50. Following the completion of the transaction, the chief executive officer now directly owns 19,250 shares in the company, valued at approximately $298,567.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert Yu Lang Mao sold 38,025 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.21, for a total value of $616,385.25. Following the transaction, the director now owns 176,112 shares of the company’s stock, valued at $2,854,775.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David W. Moon acquired 10,750 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $15.51 per share, for a total transaction of $166,732.50. Following the purchase, the chief executive officer now owns 19,250 shares of the company’s stock, valued at $298,567.50. The disclosure for this purchase can be found here. Insiders have sold a total of 93,913 shares of company stock worth $1,478,808 over the last ninety days. Company insiders own 4.70% of the company’s stock.

Institutional Trading of Energy Recovery

Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in Energy Recovery by 376.4% in the 3rd quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after acquiring an additional 3,090,086 shares during the last quarter. Brown Capital Management LLC grew its position in Energy Recovery by 64.7% during the 4th quarter. Brown Capital Management LLC now owns 4,356,963 shares of the industrial products company’s stock worth $82,085,000 after purchasing an additional 1,711,129 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Energy Recovery during the 4th quarter worth about $6,991,000. New York State Common Retirement Fund grew its position in Energy Recovery by 63.3% during the 3rd quarter. New York State Common Retirement Fund now owns 560,690 shares of the industrial products company’s stock worth $11,892,000 after purchasing an additional 217,343 shares during the period. Finally, KBC Group NV grew its position in Energy Recovery by 17.2% during the 4th quarter. KBC Group NV now owns 1,085,898 shares of the industrial products company’s stock worth $20,458,000 after purchasing an additional 159,143 shares during the period. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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.