Energy Recovery (NASDAQ:ERII) Reaches New 1-Year Low at $12.73

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

Analyst Upgrades and Downgrades

Separately, Evercore ISI lowered their price objective on shares of 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 Stock Performance

The stock has a market capitalization of $735.54 million, a price-to-earnings ratio of 35.43 and a beta of 1.26. The firm’s fifty day simple moving average is $14.87 and its 200 day simple moving average is $16.62.

Energy Recovery (NASDAQ:ERII) last posted its quarterly earnings data 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 net margin of 16.75% and a return on equity of 11.99%. The business had revenue of $57.19 million during the quarter, compared to analyst estimates of $63.57 million. During the same quarter last year, the business earned $0.24 earnings per share. Energy Recovery’s revenue for the quarter was up 35.2% on a year-over-year basis. Analysts forecast that Energy Recovery, Inc. will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Arve Hanstveit sold 50,000 shares of the company’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 completion of the sale, the director now owns 807,055 shares of the company’s stock, valued at $12,501,281.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Arve Hanstveit sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $15.49, for a total value of $774,500.00. Following the completion of the transaction, the director now owns 807,055 shares of the company’s stock, valued at $12,501,281.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Yu Lang Mao sold 38,025 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.21, for a total value of $616,385.25. Following the completion of the transaction, the director now directly owns 176,112 shares of the company’s stock, valued at approximately $2,854,775.52. The disclosure for this sale can be found here. Insiders sold a total of 93,913 shares of company stock valued at $1,478,808 over the last ninety days. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Energy Recovery

A number of institutional investors and hedge funds have recently modified their holdings of ERII. BNP Paribas Financial Markets raised its position 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 valued at $1,564,000 after buying an additional 21,840 shares during the last quarter. Mission Wealth Management LP purchased a new stake in Energy Recovery in the 1st quarter valued at $703,000. Anchor Capital Management Company LLC raised its position in 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 buying an additional 100,000 shares during the last quarter. Clear Creek Financial Management LLC purchased a new stake in Energy Recovery in the 1st quarter valued at $244,000. Finally, Keene & Associates Inc. purchased a new stake in Energy Recovery in the 1st quarter valued at $473,000. 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.