Energy Recovery (NASDAQ:ERII) Stock Price Down 4.6% – Should You Sell?

Energy Recovery, Inc. (NASDAQ:ERII)’s stock price was down 4.6% during mid-day trading on Monday . The company traded as low as $17.63 and last traded at $17.89. Approximately 200,108 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 407,953 shares. The stock had previously closed at $18.75.

Analysts Set New Price Targets

Several equities research analysts have commented on ERII shares. StockNews.com upgraded Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Fearnley Fonds downgraded shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th.

Energy Recovery Stock Down 21.8 %

The company’s 50-day moving average price is $17.78 and its 200-day moving average price is $15.67. The firm has a market cap of $848.73 million, a price-to-earnings ratio of 50.47 and a beta of 1.22.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $38.60 million for the quarter, compared to analyst estimates 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 for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. Analysts predict that Energy Recovery, Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Recovery

In other news, SVP Rodney Clemente sold 4,207 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $20.06, for a total value of $84,392.42. Following the completion of the transaction, the senior vice president now owns 106,367 shares of the company’s stock, valued at approximately $2,133,722.02. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David W. Moon sold 2,550 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.97, for a total value of $45,823.50. Following the completion of the sale, the chief executive officer now owns 87,101 shares in the company, valued at approximately $1,565,204.97. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,406 shares of company stock worth $828,688 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Recovery

Several institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. purchased a new position in shares of Energy Recovery in the 3rd quarter valued at $15,237,000. Alpha Wave Global LP grew its stake in 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 worth $20,374,000 after buying an additional 564,463 shares during the last quarter. Millennium Management LLC lifted its stake in Energy Recovery by 130.3% in the second quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after buying an additional 201,770 shares during the last quarter. KBC Group NV grew its position in shares of Energy Recovery by 14.1% during the third quarter. KBC Group NV now owns 1,238,219 shares of the industrial products company’s stock worth $21,533,000 after acquiring an additional 153,381 shares during the last quarter. Finally, Roubaix Capital LLC acquired a new position in shares of Energy Recovery in the 2nd quarter valued at $1,841,000. Hedge funds and other 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.