Energy Recovery (NASDAQ:ERII) Cut 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 released on Friday morning.

Separately, Evercore ISI decreased 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 Price Performance

Shares of NASDAQ ERII opened at $13.64 on Friday. The stock has a market capitalization of $781.98 million, a P/E ratio of 40.12 and a beta of 1.26. Energy Recovery has a 1-year low of $12.45 and a 1-year high of $30.76. The business’s 50 day moving average is $14.83 and its two-hundred day moving average is $16.52.

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

Insider Activity

In related news, Director Robert Yu Lang Mao sold 38,025 shares of Energy Recovery stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.21, for a total transaction of $616,385.25. Following the transaction, the director now directly owns 176,112 shares of the company’s stock, valued at $2,854,775.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Robert Yu Lang Mao sold 38,025 shares of the firm’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 sale, the director now owns 176,112 shares of the company’s stock, valued at $2,854,775.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David W. Moon bought 10,750 shares of the business’s 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 purchase, the chief executive officer now directly owns 19,250 shares of the company’s stock, valued at $298,567.50. The disclosure for this purchase can be found here. In the last quarter, insiders sold 90,807 shares of company stock worth $1,432,560. 4.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Energy Recovery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in Energy Recovery by 28.3% in the 1st quarter. BNP Paribas Financial Markets now owns 99,064 shares of the industrial products company’s stock worth $1,564,000 after purchasing an additional 21,840 shares in the last quarter. Mission Wealth Management LP purchased a new stake in shares of Energy Recovery during the first quarter valued at $703,000. Anchor Capital Management Company LLC increased its position in shares of Energy Recovery by 39.1% in the 1st quarter. Anchor Capital Management Company LLC now owns 355,500 shares of the industrial products company’s stock valued at $5,613,000 after acquiring an additional 100,000 shares during the period. Clear Creek Financial Management LLC purchased a new position in Energy Recovery in the 1st quarter worth $244,000. Finally, Keene & Associates Inc. purchased a new stake in Energy Recovery during the 1st quarter valued at about $473,000. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

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.