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

Energy Recovery, Inc. (NASDAQ:ERII) dropped 4.8% on Tuesday . The stock traded as low as $17.93 and last traded at $18.00. Approximately 140,782 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 411,956 shares. The stock had previously closed at $18.91.

Analyst Ratings Changes

ERII has been the topic of a number of research analyst reports. Raymond James upgraded Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Tuesday, July 9th. StockNews.com upgraded shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

Energy Recovery Stock Performance

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

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data 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. The business had revenue of $27.20 million for the quarter, compared to the consensus estimate of $23.36 million. Energy Recovery had a return on equity of 9.88% and a net margin of 15.40%. As a group, analysts expect that Energy Recovery, Inc. will post 0.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider William Yeung sold 2,012 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $14.63, for a total value of $29,435.56. Following the completion of the transaction, the insider now owns 85,291 shares of the company’s stock, valued at $1,247,807.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Energy Recovery news, CEO David W. Moon purchased 3,000 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average price of $16.00 per share, for a total transaction of $48,000.00. Following the acquisition, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at $524,000. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider William Yeung sold 2,012 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $14.63, for a total transaction of $29,435.56. Following the transaction, the insider now owns 85,291 shares in the company, 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. Insiders have sold 8,444 shares of company stock valued at $123,536 in the last ninety days. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Energy Recovery

Institutional investors and hedge funds have recently bought and sold shares of the stock. Trillium Asset Management LLC purchased a new stake in shares of Energy Recovery during the 1st quarter valued at $3,774,000. Millennium Management LLC grew its position in Energy Recovery by 130.3% during the second 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Energy Recovery during the first quarter worth about $2,372,000. Roubaix Capital LLC purchased a new position in shares of Energy Recovery in the 2nd quarter worth about $1,841,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Energy Recovery by 668.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock valued at $2,522,000 after purchasing an additional 126,148 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.