Energy Recovery (NASDAQ:ERII) Reaches New 52-Week Low at $12.73

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com downgraded shares of Energy Recovery from a “hold” rating to a “sell” rating in a research note on Friday. Evercore ISI dropped their price target on shares of Energy Recovery from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th.

Energy Recovery Stock Up 4.6 %

The stock has a market capitalization of $781.98 million, a PE ratio of 40.12 and a beta of 1.26. The business’s 50-day moving average is $14.83 and its two-hundred day moving average is $16.55.

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

Insider Buying and Selling at Energy Recovery

In other Energy Recovery news, Director Arve Hanstveit sold 50,000 shares of Energy Recovery stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total value of $774,500.00. Following the transaction, the director now directly owns 807,055 shares in the company, valued at $12,501,281.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Arve Hanstveit sold 50,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $15.49, for a total transaction of $774,500.00. Following the transaction, the director now directly owns 807,055 shares in the company, valued at $12,501,281.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Yu Lang Mao sold 38,025 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.21, for a total transaction of $616,385.25. Following the transaction, the director now owns 176,112 shares in the company, valued at $2,854,775.52. 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. 4.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund grew its position in Energy Recovery by 33.0% during the fourth quarter. New York State Common Retirement Fund now owns 745,853 shares of the industrial products company’s stock worth $14,052,000 after buying an additional 185,163 shares during the period. Barclays PLC grew its position in Energy Recovery by 8.2% during the third quarter. Barclays PLC now owns 21,940 shares of the industrial products company’s stock worth $466,000 after buying an additional 1,671 shares during the period. Charles Schwab Investment Management Inc. grew its position in Energy Recovery by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 433,655 shares of the industrial products company’s stock worth $9,198,000 after buying an additional 13,247 shares during the period. FMR LLC grew its position in Energy Recovery by 376.4% during the third quarter. FMR LLC now owns 3,910,978 shares of the industrial products company’s stock worth $82,952,000 after buying an additional 3,090,086 shares during the period. Finally, Invesco Ltd. grew its position in Energy Recovery by 4.6% during the third quarter. Invesco Ltd. now owns 891,312 shares of the industrial products company’s stock worth $18,905,000 after buying an additional 39,310 shares during the period. 83.58% of the stock is currently owned by institutional investors and hedge funds.

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.