Energy Recovery (NASDAQ:ERII) Stock Price Down 3.4% – Time to Sell?

Energy Recovery, Inc. (NASDAQ:ERII) was down 3.4% during trading on Monday . The stock traded as low as $15.92 and last traded at $15.83. Approximately 250,883 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 380,085 shares. The stock had previously closed at $16.38.

Analysts Set New Price Targets

A number of brokerages have recently commented on ERII. B. Riley cut their target price on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Seaport Res Ptn raised Energy Recovery to a “strong-buy” rating in a research report on Thursday, December 5th. Scotiabank began coverage on Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Evercore ISI decreased their price target on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Price Performance

The stock has a 50-day moving average price of $14.97 and a 200-day moving average price of $16.14. The firm has a market capitalization of $867.96 million, a PE ratio of 46.43 and a beta of 1.21.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $67.08 million during the quarter, compared to analyst estimates of $67.39 million. Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. As a group, equities research analysts predict that Energy Recovery, Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other news, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.34, for a total transaction of $817,000.00. Following the completion of the transaction, the director now directly owns 693,182 shares of the company’s stock, valued at approximately $11,326,593.88. This represents a 6.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.42, for a total value of $330,666.48. Following the transaction, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. This represents a 16.18 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Recovery

Institutional investors have recently modified their holdings of the company. Avanza Fonder AB bought a new position in Energy Recovery in the 4th quarter worth about $107,000. Schroder Investment Management Group bought a new position in Energy Recovery in the 4th quarter worth approximately $160,000. Nebula Research & Development LLC increased its position in Energy Recovery by 6.3% in the 4th quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after acquiring an additional 687 shares during the period. Polymer Capital Management US LLC acquired a new stake in Energy Recovery in the 4th quarter valued at approximately $211,000. Finally, Two Sigma Investments LP bought a new stake in Energy Recovery during the 4th quarter valued at $229,000. 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.