Energy Recovery (NASDAQ:ERII) Stock Price Down 4.8% – Time to Sell?

Energy Recovery, Inc. (NASDAQ:ERII) shares dropped 4.8% during mid-day trading on Tuesday . The stock traded as low as $17.93 and last traded at $18.00. Approximately 140,782 shares changed hands during trading, a decline of 66% from the average daily volume of 411,956 shares. The stock had previously closed at $18.91.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James raised shares of Energy Recovery from an “outperform” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Tuesday, July 9th. StockNews.com raised Energy Recovery from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

Energy Recovery Stock Performance

The company’s fifty day moving average price is $17.14 and its two-hundred day moving average price is $15.13. The firm has a market capitalization of $1.03 billion, a PE ratio of 52.59 and a beta of 1.23.

Energy Recovery (NASDAQ:ERII) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.10. The company had revenue of $27.20 million during the quarter, compared to analysts’ expectations of $23.36 million. Energy Recovery had a net margin of 15.40% and a return on equity of 9.88%. On average, equities analysts expect that Energy Recovery, Inc. will post 0.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David W. Moon acquired 3,000 shares of Energy Recovery stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $16.00 per share, with a total value of $48,000.00. Following the purchase, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at approximately $524,000. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Rodney Clemente sold 2,353 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $14.63, for a total transaction of $34,424.39. Following the completion of the sale, the senior vice president now directly owns 140,328 shares of the company’s stock, valued at approximately $2,052,998.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Moon acquired 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,750 shares of the company’s stock, valued at $524,000. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 8,444 shares of company stock worth $123,536 over the last three months. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Recovery

Several institutional investors and hedge funds have recently modified their holdings of the stock. Trillium Asset Management LLC acquired a new position in Energy Recovery during the 1st quarter worth approximately $3,774,000. Millennium Management LLC grew its stake in Energy Recovery by 130.3% during the 2nd quarter. Millennium Management LLC now owns 356,595 shares of the industrial products company’s stock valued at $4,739,000 after purchasing an additional 201,770 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Energy Recovery during the 1st quarter worth approximately $2,372,000. Roubaix Capital LLC acquired a new position in shares of Energy Recovery in the 2nd quarter valued at approximately $1,841,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Energy Recovery by 668.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 145,022 shares of the industrial products company’s stock valued at $2,522,000 after buying an additional 126,148 shares during the last quarter. Hedge funds and other 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.