Energy Recovery (NASDAQ:ERII) Trading 5.7% Higher – Still a Buy?

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 were traded 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 equities analysts have recently commented on ERII shares. B. Riley cut their price target on Energy Recovery from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Scotiabank began coverage on shares of Energy Recovery in a research note on Thursday, December 5th. They issued a “buy” rating and a $22.00 target price for the company. Seaport Res Ptn raised shares of Energy Recovery to a “strong-buy” rating in a report on Thursday, December 5th. Evercore ISI reduced 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. Finally, Fearnley Fonds lowered shares of Energy Recovery from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $20.75.

Energy Recovery Stock Up 2.3 %

The stock has a market capitalization of $869.57 million, a price-to-earnings ratio of 44.19 and a beta of 1.18. The firm has a fifty day moving average of $14.76 and a 200-day moving average of $16.29.

Energy Recovery (NASDAQ:ERII) last issued its earnings results on Wednesday, February 26th. The industrial products company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The firm had revenue of $67.08 million during the quarter, compared to analysts’ expectations of $67.39 million. Energy Recovery had a return on equity of 8.90% and a net margin of 14.35%. As a group, research 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, SVP Rodney Clemente sold 21,444 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 111,109 shares of the company’s stock, valued at $1,713,300.78. The trade was a 16.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arve Hanstveit sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $16.87, for a total value of $337,400.00. Following the sale, the director now owns 743,182 shares in the company, valued at approximately $12,537,480.34. This trade represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Energy Recovery

Several institutional investors and hedge funds have recently made changes to their positions in ERII. Nebula Research & Development LLC lifted its holdings in shares of Energy Recovery by 6.3% in the fourth quarter. Nebula Research & Development LLC now owns 11,577 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 687 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Energy Recovery by 2.9% in the fourth quarter. Manchester Capital Management LLC now owns 29,174 shares of the industrial products company’s stock valued at $429,000 after buying an additional 830 shares during the period. DnB Asset Management AS raised its position in shares of Energy Recovery by 2.9% in the 4th quarter. DnB Asset Management AS now owns 37,395 shares of the industrial products company’s stock valued at $550,000 after buying an additional 1,050 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Energy Recovery by 8.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,642 shares of the industrial products company’s stock valued at $307,000 after buying an additional 1,433 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Energy Recovery by 1.3% during the 4th quarter. Nordea Investment Management AB now owns 125,719 shares of the industrial products company’s stock worth $1,859,000 after purchasing an additional 1,618 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

Energy Recovery Company Profile

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.