Energy Recovery (NASDAQ:ERII) Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Energy Recovery (NASDAQ:ERII) from a hold rating to a sell rating in a report published on Friday morning.

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

Energy Recovery Stock Performance

Energy Recovery stock opened at $13.64 on Friday. The company has a market capitalization of $781.98 million, a PE ratio of 40.12 and a beta of 1.26. Energy Recovery has a fifty-two week low of $12.45 and a fifty-two week high of $30.76. The firm has a 50 day moving average price of $14.83 and a 200 day moving average price of $16.55.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $57.19 million for the quarter, compared to analysts’ expectations of $63.57 million. Energy Recovery had a return on equity of 9.82% and a net margin of 15.38%. The company’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. As a group, equities research analysts forecast that Energy Recovery will post 0.42 earnings per share for the current year.

Insider Activity

In related news, CEO David W. Moon bought 10,750 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $15.51 per share, with a total value of $166,732.50. Following the purchase, the chief executive officer now directly owns 19,250 shares of the company’s stock, valued at approximately $298,567.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David W. Moon purchased 10,750 shares of the stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $15.51 per share, for a total transaction of $166,732.50. Following the acquisition, the chief executive officer now directly owns 19,250 shares of the company’s stock, valued at approximately $298,567.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arve Hanstveit sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total transaction of $774,500.00. Following the completion of the sale, the director now directly owns 807,055 shares in the company, valued at $12,501,281.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,913 shares of company stock worth $1,478,808. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of Energy Recovery

Institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its position in shares of Energy Recovery by 7.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,223 shares of the industrial products company’s stock worth $259,000 after acquiring an additional 830 shares in the last quarter. Raymond James & Associates increased its stake in Energy Recovery by 40.3% in the third quarter. Raymond James & Associates now owns 297,886 shares of the industrial products company’s stock valued at $6,318,000 after purchasing an additional 85,544 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Energy Recovery during the third quarter worth approximately $453,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Energy Recovery by 10.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,328 shares of the industrial products company’s stock worth $283,000 after buying an additional 1,302 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Energy Recovery by 4.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,420 shares of the industrial products company’s stock valued at $603,000 after buying an additional 1,207 shares in the last quarter. 83.58% of the stock is 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.