Energy Recovery (NASDAQ:ERII) Sees Unusually-High Trading Volume – What’s Next?

Shares of Energy Recovery, Inc. (NASDAQ:ERII) saw unusually-strong trading volume on Thursday . Approximately 2,705,207 shares were traded during trading, an increase of 522% from the previous session’s volume of 434,687 shares.The stock last traded at $15.28 and had previously closed at $15.50.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ERII. Evercore ISI cut their price objective on shares of Energy Recovery from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday. B. Riley lowered their price objective on shares of Energy Recovery from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday. Fearnley Fonds downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, StockNews.com raised shares of Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.33.

Energy Recovery Trading Up 0.8 %

The company has a market capitalization of $904.82 million, a price-to-earnings ratio of 45.59 and a beta of 1.22. The firm’s 50-day moving average price is $17.78 and its 200 day moving average price is $15.70.

Energy Recovery (NASDAQ:ERII) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $38.60 million during the quarter, compared to the consensus estimate of $37.37 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 earnings per share. As a group, equities research analysts anticipate that Energy Recovery, Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Rodney Clemente sold 6,505 shares of Energy Recovery stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.98, for a total transaction of $116,959.90. Following the sale, the senior vice president now directly owns 133,823 shares in the company, valued at $2,406,137.54. The trade was a 4.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Farshad Ghasripoor sold 10,526 shares of Energy Recovery stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.97, for a total value of $189,152.22. Following the completion of the sale, the chief technology officer now directly owns 126,961 shares of the company’s stock, valued at approximately $2,281,489.17. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,406 shares of company stock worth $828,688 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Energy Recovery

Large investors have recently modified their holdings of the business. Hantz Financial Services Inc. purchased a new stake in Energy Recovery in the second quarter worth $26,000. CWM LLC increased its position in Energy Recovery by 5,032.5% in the third quarter. CWM LLC now owns 4,260 shares of the industrial products company’s stock worth $74,000 after buying an additional 4,177 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of Energy Recovery during the first quarter worth about $158,000. Pinnacle Associates Ltd. purchased a new stake in shares of Energy Recovery during the third quarter worth about $193,000. Finally, Lazard Asset Management LLC grew its position in shares of Energy Recovery by 39.6% during the first quarter. Lazard Asset Management LLC now owns 10,838 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 3,076 shares in the last quarter. 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.