Energy Recovery (NASDAQ:ERII) Trading 5.7% Higher – What’s Next?

Energy Recovery, Inc. (NASDAQ:ERII)’s share price rose 5.7% during trading on Thursday . The stock traded as high as $16.03 and last traded at $15.52. Approximately 52,193 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 254,221 shares. The stock had previously closed at $14.68.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Fearnley Fonds downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Evercore ISI reduced their price objective on Energy Recovery from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Scotiabank started coverage on shares of Energy Recovery in a research report on Thursday, December 5th. They issued a “buy” rating and a $22.00 price target on the stock. B. Riley lowered their price objective on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $20.75.

Energy Recovery Stock Performance

The firm has a fifty day simple moving average of $14.76 and a two-hundred day simple moving average of $16.27. The firm has a market cap of $866.09 million, a PE ratio of 44.00 and a beta of 1.18.

Energy Recovery (NASDAQ:ERII) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Energy Recovery had a net margin of 14.35% and a return on equity of 8.90%. The company had revenue of $67.08 million for the quarter, compared to analysts’ expectations of $67.39 million. Equities analysts forecast that Energy Recovery, Inc. will post 0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Energy Recovery news, Director Arve Hanstveit sold 20,000 shares of Energy Recovery stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total transaction of $337,400.00. Following the completion of the sale, the director now directly owns 743,182 shares of the company’s stock, valued at $12,537,480.34. The trade was a 2.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rodney Clemente sold 21,444 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.42, for a total transaction of $330,666.48. Following the completion of the sale, the senior vice president now directly owns 111,109 shares of the company’s stock, valued at approximately $1,713,300.78. This trade represents a 16.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Recovery

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in shares of Energy Recovery by 24.6% in the 4th quarter. Ameriprise Financial Inc. now owns 4,953,951 shares of the industrial products company’s stock valued at $72,823,000 after buying an additional 978,490 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Energy Recovery by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 3,252,378 shares of the industrial products company’s stock worth $47,810,000 after acquiring an additional 43,290 shares during the period. Geode Capital Management LLC raised its stake in shares of Energy Recovery by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,358,620 shares of the industrial products company’s stock valued at $23,631,000 after buying an additional 56,306 shares during the last quarter. KBC Group NV raised its position in Energy Recovery by 0.4% during the fourth quarter. KBC Group NV now owns 1,242,889 shares of the industrial products company’s stock valued at $18,270,000 after acquiring an additional 4,670 shares in the last quarter. Finally, Alpha Wave Global LP increased its holdings in shares of Energy Recovery by 93.0% during the 3rd quarter. Alpha Wave Global LP now owns 1,171,586 shares of the industrial products company’s stock valued at $20,374,000 after purchasing an additional 564,463 shares in the last quarter. 83.58% of the stock is currently owned by institutional investors.

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.